BTC hashrate plunged again 📉
The BTC(Bitcoin) hashrate collapsed again 📉 This level is similar to 6 months ago. It seems that BTC miners capitulate due to low mining profits.
Take a look at a mining reward. Each block reward is 3.125 BTC, and a recent fee is around 0.1 BTC. Compared to the right after the BTC 4th halving date, the fees have much decreased.
So, it's not strange that some BTC mining hashrate have left the BTC blockchain. I believe they're coming back within a few months.
The conditions would be commencing trading spot ETH(Ethereum) ETFs, and the first federal funds rate cut.
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