The leading cryptocurrency, Bitcoin (BTC), is preparing to close 2025 below $100,000. Many predictions exist regarding this, as investors are now expecting a significant price increase.
Among these predictions are bearish forecasts, with the latest coming from VanEck. Based on data from miners, VanEck suggests that the capitulation of Bitcoin miners could signal a bottom in the near term.
According to VanEck, in its latest report, miners are showing signs of capitulation, and this capitulation signals a medium-term uptrend.
Data shows that as of December 15th, Bitcoin’s hash rate has fallen by 4% in the past month, the largest monthly drop since April 2024.
VanEck analysts Matt Sigel and Patrick Bush explained that the recent downward pressure on the BTC hash rate has historically often preceded price increases.
At this point, analysts noted that since 2014, whenever the hash rate dropped within a 30-day period, Bitcoin rose by 65% in the following 90 days, considering this a historically bullish counter-signal.
“The Bitcoin network hash rate dropped by approximately 4% in the month leading up to mid-December. This, based on historical data, suggests that a price recovery is possible in the medium term.”
Finally, the report stated that the mining sector is expected to remain under pressure in the short term, but the declining hash rate could act as a buy signal for the BTC price.
It was also noted that the recent drop in Bitcoin’s hash rate came after the closure of approximately 1.3 GW of mining facilities in China.
*This is not investment advice.
