Miner Capitulation Is Putting Pressure On The Bitcoin Price

The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine‘s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.

For those that are unfamiliar with how hashrate is calculated: the Bitcoin network targets ten minute block times, and has a difficulty adjustment every 2,016 blocks (about every two weeks). If over a 2,016 block period, blocks are coming in at 5% faster rate than the 10 minute average target, then difficulty will adjust upwards, and vice versa.



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