Bitcoin Difficulty Hits New Highs as Key Metric Signals Miner Capitulation and Possible Bottom

CoinDesk (nprofile…nhef)
✍️ Bitcoin's mining difficulty has reached an all-time high of 114.7 trillion, coinciding with a miner capitulation signal, which may indicate a local price bottom.
👉 Bitcoin's mining difficulty has reached an all-time high of 114.7 trillion
👉 The Hash Ribbon metric is signaling miner capitulation, which may indicate a local price bottom
👉 Miner capitulation began in early February, according to Glassnode data
👉 Bitcoin is down over 4% month-to-date
👉 Riot Platforms (RIOT) was the only major public miner to report a month-over-month production increase in January

#technology

quoting nevent1q…98v6

CoinDesk (nprofile…nhef)

Hash Ribbon signals miner capitulation, which tends to mark a local bottom in the bitcoin price.
https://www.coindesk.com/markets/2025/02/10/bitcoin-difficulty-hits-new-highs-as-key-metric-signals-miner-capitulation-and-possible-bottom