Bitcoin miners are nearing capitulation due to shrinking profit margins and increased BTC sell-offs. Since the halving, miners have seen a 63% drop in daily revenues. As a result, miners are forced to sell their reserves.

Bitcoin has recently experienced significant sell-side pressure, leading to a substantial price drop and declining investor confidence. 

The rehabilitation trustee of Mt. Gox has announced that repayments in Bitcoin and Bitcoin Cash will commence in July 2024. Creditors have been waiting for over a decade to recover their funds.