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Fast Take
Between the months of November 2022 and January, Bitcoin fell under $20k.
In response to the Problem regression mannequin (The all-in price to mine 1 Bitcoin), it was an unprofitable time for miners.
Miners have been distributing cash in extra of the mined provide, with Values > 100%, and depleting treasury reserves.
Now, the miner provide spent signifies worth = 100%; within the mixture, a quantity of cash equal to the overall mined provide was spent. That is supported by the miner stability which is flat year-to-date.
In Tuur Demeester’s newest report, CryptoSlate agrees that miner capitulation was final 12 months, and miners are a lot stronger from a debt place perspective (See extract under).
The submit Why the Bitcoin miner capitulation was in 2022 appeared first on CryptoSlate.
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