KEY POINTS
- Hashrate Index data shows that Bitcoin's hashprice was at $45 on Friday morning, compared to $172 on April 21
- Bitcoin prices have also plunged below $58,000, significantly down from an ATH of $73,000 in March
- Some analysts said BTC miners are still 'bleeding out' and capitulation levels have reached the same as those in December 2022
Miners of Bitcoin are the backbone of the burgeoning $BTC market, but they have been struggling in recent weeks as the impact of the halving earlier this year and the digital coin's plunging prices are pushing smaller miners to the brink.
