💬 VanEck estimates that the capitulation of miners may indicate that a bottom is near.

In December, Bitcoin's hashrate fell by 4% month-over-month, its largest monthly decline since April 2024.

Historically, this is a bullish signal according to VanEck, which noted that since 2014, when the hashrate decreases over 30 days, Bitcoin tends to rise in the following 90 days in 65% of cases.