• Bitcoin has fallen by 11.28% from its ATH, reducing miners profitability
• Miners could capitulate as profit/loss sustainability enters extremely underpaid zone

Since hitting a new all-time high of $109k nearly 3 weeks ago, Bitcoin [BTC] has dropped by approximately 11.28% on the charts.

This decline has not only affected short-term holders in terms of profitability, but also miners. In fact, the latest dip in BTC’s price charts has left miners struggling to keep up with the market.

CryptoQuant analyst Frost, for instance, observed that miners are extremely underpaid right now, risking miners’ capitulation.

Bitcoin’s Miner Profit/Loss enters extreme underpaid zone

According to CryptoQuant, Bitcoin miners’ profit-loss sustainability has entered the extremely underpaid zone.

This, following the April 2024 halving which resulted in a rising mining difficulty. While it has become more difficult to mine, Bitcoin’s hash rate has continued to grow – A sign of the surge in competition among miners.

With Bitcoin continuing to decline since hitting

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Author: Gladys Makena