‘No signs’ of Bitcoin miner capitulation despite plummeting revenue
CryptoQuant CEO Ki Young Ji said that despite a drop in Bitcoin mining revenues since the halving, Bitcoin miners haven’t shown any signs of capitulation.
Bitcoin (BTC) miners show no signs of “capitulation” despite their revenue falling to 14-month lows following the halving event in April.
In an April 30 post to X, CryptoQuant CEO Ki Young Ju said that following a drop in revenue to levels post having, Bitcoin miners now face two options, capitulation or await growth in the price of Bitcoin to cover their costs.
Citing the 365-day Puell Multiple chart — a metric that estimates the level of sell pressure from miners — Ju said miners show no signs of capitulation “for now.”
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Author: Tom Mitchelhill
