๐คฏ $BTC: China's Mining Crackdown & The 2026 Rebound?
The Bitcoin market is sending mixed signals. While sentiment is still cautious โ profitable supply has plummeted to 63% โ a major factor is quietly shifting beneath the surface.
Chinaโs crackdown on mining, especially in Xinjiang, forced a massive 1.3 GW of capacity offline and 400,000 rigs to halt. โ๏ธ This caused an 8% drop in hashrate and squeezed miner profits, leading to strategic selling. Simultaneously, long-term holders also increased selling, adding to the pressure.
But hereโs the twist: US spot ETF inflows are surging, hitting a one-month high! This divergence โ forced selling from miners vs. strong US demand โ could be the key to $BTC 2026 breakout. Is this capitulation setting the stage for a major move? ๐ค
#Bitcoin #Crypto #MarketAnalysis #ETF ๐
