VanEck: Bitcoin Miner Capitulation May Signal Bottom
Analysis
Price Impact
HighVaneck suggests bitcoin miner capitulation, marked by a 4% drop in hash rate and miners going offline due to increased difficulty and lower prices, often signals a market bottom. historically, negative 90-day hash rate growth precedes price rises.
Trustworthiness
HighVaneck is a reputable institutional asset manager. their analysis is based on historical market cycles, on-chain metrics (hash rate), and institutional flow data (corporate buying vs. etp selling).
Price Direction
BullishMiner capitulation is often a precursor to a price bottom. combined with aggressive 'buying the dip' by corporate treasuries (42,000 btc added last month), this suggests a strong accumulation phase from long-term holders despite etp outflows, pointing towards an eventual upward price movement.
Time Effect
LongThe historical probability of a bitcoin price rise after negative 90-day hash rate growth is over the 'next 6 months'. corporate accumulation is typically a long-term investment strategy, indicating a sustained impact.
Original Article:
Article Content:
Cover image via www.freepik.com Read U.TODAY on Google News Despite Bitcoin's gloomy price action and poor on-chain metrics, VanEck argues for cautious optimism because miners are capitulating. Advertisement The Bitcoin network's "hash rate", the total computing power securing the network, dropped by 4% over the last 30 days. This is the sharpest decline since April 2024. The "breakeven price" for a standard mining rig (the S19 XP) is $0.077 per kWh. However, Bitcoin’s price dropped, and mining difficulty increased. Hence, this is causing an exodus of miners. Desperate industry participants who were selling every Bitcoin they mined just to pay bills are now offline. HOT Stories VanEck: Bitcoin Miner Capitulation May Signal Bottom Crypto Market Prediction: Ethereum (ETH) Squeezed on Verge of Explosion, XRP's Attempt to End Bearish Dominance, Will Bitcoin Break Through $90,000 in Third Attempt? Leading ETH Treasury Firm Reaches Tremendous Milestone Shiba Inu Sell Wall Stalls Price Rally, Ripple’s Stablecoin Cuts Token Supply, Cardano Founder Takes Jab at XRP and SOL — Crypto News Digest The report notes that Xinjiang-based Chinese miners in shut down roughly 1.3 GW of capacity. Advertisement You Might Also Like Mon, 12/22/2025 - 16:30 BTC Price Could Bottom at $37,500 in 2026: Analyst By Caroline Amosun Historically, when the 90-day hash rate growth is negative, the probability of Bitcoin's price rising over the next 6 months increases to 77% Institutional divergence The report notes that corporations are aggressively "buying the dip." They added 42,000 BTC in the last month (the most since July 2025). As reported by U.Today, Saylor's Strategy recently announced Advertisement Conversely, investors in Bitcoin ETFs/ETPs are retreating, with holdings dropping by roughly 120 basis points. Long-term corporate treasuries are accumulating Bitcoin while arguably more fickle ETP investors are selling. The selling pressure is coming from cyclical players who entered in the last few years, not from the "OG" Bitcoin believers. At the same time, speculation has cooled off. Perpetual future basis rates dropped to 5% (below the yearly average of 7.4%). #Bitcoin Price Prediction #VanEck