The BTC(Bitcoin) hashrate collapsed again 📉 This level is similar to 6 months ago. It seems that BTC miners capitulate due to low mining profits.
Take a look at a mining reward. Each block reward is 3.125 BTC, and a recent fee is around 0.1 BTC. Compared to the right after the BTC 4th halving date, the fees have much decreased.
So, it's not strange that some BTC mining hashrate have left the BTC blockchain. I believe they're coming back within a few months.
The conditions would be commencing trading spot ETH(Ethereum) ETFs, and the first federal funds rate cut.
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Upvoted! Thank you for supporting witness @jswit.
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Congratulations, your post has been upvoted by @upex with a 100.00% upvote. We invite you to continue producing quality content and join our Discord community here. Keep up the good work! #upex
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Congratulations, your post has been upvoted by @nixiee with a 78.0419342342479 % upvote Vote may not be displayed on Steemit due to the current Steemit API issue, but there is a normal upvote record in the blockchain data, so don't worry.
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