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

1 week ago7 min read

The Bitcoin network is showing classic signs of miner capitulation, with its total hashrate down a significant 15% from its October peak. This isn't just a minor blip; it's a grinding, nearly 60-day purge of inefficient operators.For the Bitcoin maximalist, this is the market's brutal, beautiful mechanism at work. When the price stagnates post-halving and transaction fees aren't enough to cover soaring energy costs, the weak hands get shaken out.Their machines go offline, the network's computational power dips, and the difficulty adjustment—that elegant, self-healing protocol written into Bitcoin's DNA—eventually kicks in to lower the barrier for the survivors. This is the cycle.It's painful for those on the wrong side of the power bill, but it's essential. It strengthens the network, consolidating hashpower with the most efficient, often institutional-scale, miners who believe in the long game.While the altcoin crowd chases the next shiny token, Bitcoin is in the trenches, undergoing a necessary stress test. This capitulation phase, reminiscent of past crypto winters, is where real conviction is forged. It filters out the noise, leaving a leaner, more resilient network poised for the next leg up, proving once again that Bitcoin's unforgiving economics are its greatest strength, not a weakness.

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#bitcoin hashrate

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