Bitcoin hashrate drops 15% from October high as miner capitulation drags into almost 60 days

Recent reports indicate that Bitcoin's hashrate has dropped by 15% from its October highs, primarily due to ongoing miner capitulation, which has persisted for nearly 60 days. Additionally, a 4% decline in mining difficulty is projected, marking seven negative adjustments in eight instances. This scenario raises concerns about how it might affect Bitcoin's supply and overall market sentiment. Miner capitulation can be interpreted as a potential bearish signal for prices and could also impact investor psychology. Furthermore, it may lead to slower block generation rates, raising concerns about the overall health of the network. Traders should monitor how Bitcoin responds to this trend for insights into future price movements.