The current price crash is starting to put significant pressure on the Bitcoin mining industry. As the price dips toward $70,000, the "Hash Price"—a measure of miner profitability—is reaching dangerously low levels. We are beginning to see signs of miner capitulation, where smaller operations are forced to sell their holdings to cover operational costs. This added sell pressure often marks the final phase of a market bottom, but it creates intense short-term volatility. If the hashrate continues to fluctuate as miners go offline, it could further dampen investor confidence. The industry is watching closely to see which operations have the treasury reserves to survive this 2026 winter.
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