Miners capitulation looms if Bitcoin fails to recover significantly

tldr; CryptoQuant warns that Bitcoin miners may face capitulation if prices do not recover significantly during the summer. Despite the current price drop below $58,000, major miner capitulation has not started yet. Miners with efficient equipment like ASIC models S19 and S21 are still profitable, but those using older models may face losses due to higher electricity costs. The situation will depend on future network hashrate and price changes, with potential increased selling pressure if recovery does not occur.

*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Youd have to be overly dumb or optimistic to be to be forced into capitulation by the market dipping at halvening. It has dipped on the last 3 halvenings. xoxoxo