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2024-06-11 17:23:04

Bitcoin Faces Drop Amid Miner Capitulation and High Speculative Bets

Bitcoin prices are currently in decline, dropping from their recent peaks in May, which approached $72,000. The current downturn is partly attributed to the phenomenon known as “miner capitulation,” as noted by on-chain analyst Willy Woo. According to Woo, the Bitcoin network is actively “culling” less efficient miners, leading to a substantial liquidation of Bitcoin

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