Bitcoin Bear Market Signal Just Flashed as Miners Capitulate Fast

What happened

The short‑term hash (STH) cost basis fell below the long‑term hash (LTH) line, miner shutdowns surged 2,150%, and older Bitcoin coins began moving again, indicating a bearish signal.

Confirmed

Global impact / market context

A drop in miners’ cost basis and massive shutdowns suggest weaker profitability, which can lower network participation and affect Bitcoin’s price stability, influencing investors’ risk assessments.

Analyst inference

Bitcoin has been in a prolonged decline for nine months, and analysts have been tracking its price chart for signs of a new trend. The recent movements occur within this ongoing bear market environment.

Confirmed

What to watch

1. If the STH cost basis stays under the LTH line, more miners may shut down, reducing network hash power and potentially lowering Bitcoin’s security. Analyst inference
2. Continued movement of old coins could signal increased selling pressure, which might push Bitcoin prices lower in the short term. Analyst inference
3. Watch for any policy or regulatory announcements that could affect mining profitability, as they may alter the cost‑basis dynamics and miner behavior. Proposed

Affected assets

• BTC — Bitcoin

Evidence

• livebitcoinnews.com