Crypto CEO Predicts Bitcoin Market Trends For The Mid-Term Using Miner Capitulation

This post was originally published on Bitcoinist

Miners are an integral part of the Bitcoin network and since new supply comes through them, it can be important to track what the miners are doing with their coins in an effort to predict where the market might be headed next. Given this, Ki Young Ju, founder of the analytics platform Cryptoquant, has tracked Bitcoin miner behavior, placing them in a capitulation trend and predicting what the market might do going forward as a result of this.

Bitcoin Miners Are Still Capitulating

In the analysis that was posted on X (formerly Twitter), Ki Young Ju revealed that Bitcoin miners are still in capitulation mode. This shows that these miners have given in to the current market trend, which is still bearish, and this might continue for a while.

As the Cryptoquant CEO points out, there are situations which would call for the end of this capitulation, and one of those is the percentage of the average daily mined BTC in comparison to the total BTC mined yearly. Usually, this end of capitulation happens when the average daily mined BTC is sitting at 40% of the yearly averaged.

However, the daily average compared to the yearly average is still way

Read the rest of this post, which was originally published on Bitcoinist.

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