A rather unremarkable number is set to change sometime after 11 p.m. tonight.
BTC network difficulty is expected to drop by 7.67%.
What does that mean?
Over the past two weeks, blocks have taken an average of 650 seconds to mine—well above the 600-second target.
Mining power has actually recovered to 982 EH/s.
But the price has slid from $74,000 to $71,400, and hashprice is hovering around $32. Mining is becoming an increasingly tough business.
A difficulty drop is the network adjusting itself.
When miners can’t keep going, they leave; difficulty falls, and those who remain get some breathing room.
The last difficulty adjustment was a 5.54% increase on October 29. Less than a month later, it’s swinging sharply in the opposite direction—the pace of this shift is pretty fast.
What’s interesting is that miners aren’t the only sellers in this downturn.
ETFs have seen outflows for five consecutive days, totaling nearly $1.44 billion since November 5.
Liquidations over 24 hours hit $727 million, and the Fear Index dropped to 20—extreme fear.
I don’t think a difficulty drop by itself means we’ve hit bottom.
It’s more like a thermometer: it tells you how much miners are hurting right now.
For a real turnaround, we’ll have to watch tonight’s 9:30 p.m. PPI release and see when ETF outflows stop.
What do you think—are miners capitulating a sign we’ve hit bottom, or is this just the beginning?
Let’s talk in the comments 👇
$BTC $ETH
#市场观察 #比特币 #Miners
This is not investment advice. DYOR; trading involves risk.
BTC network difficulty is expected to drop by 7.67%.
What does that mean?
Over the past two weeks, blocks have taken an average of 650 seconds to mine—well above the 600-second target.
Mining power has actually recovered to 982 EH/s.
But the price has slid from $74,000 to $71,400, and hashprice is hovering around $32. Mining is becoming an increasingly tough business.
A difficulty drop is the network adjusting itself.
When miners can’t keep going, they leave; difficulty falls, and those who remain get some breathing room.
The last difficulty adjustment was a 5.54% increase on October 29. Less than a month later, it’s swinging sharply in the opposite direction—the pace of this shift is pretty fast.
What’s interesting is that miners aren’t the only sellers in this downturn.
ETFs have seen outflows for five consecutive days, totaling nearly $1.44 billion since November 5.
Liquidations over 24 hours hit $727 million, and the Fear Index dropped to 20—extreme fear.
I don’t think a difficulty drop by itself means we’ve hit bottom.
It’s more like a thermometer: it tells you how much miners are hurting right now.
For a real turnaround, we’ll have to watch tonight’s 9:30 p.m. PPI release and see when ETF outflows stop.
What do you think—are miners capitulating a sign we’ve hit bottom, or is this just the beginning?
Let’s talk in the comments 👇
$BTC $ETH
#市场观察 #比特币 #Miners
This is not investment advice. DYOR; trading involves risk.