#比特币价格波动 Recently, I came across a report from VanEck indicating that a decline in mining activity is now seen as a bullish signal for Bitcoin. This logic is quite interesting!

Data shows that since 2014, when the Bitcoin network hash rate decreases, there is a 65% chance of achieving positive returns within 90 days. What is the reason behind this? It’s actually market self-regulation — miners with low operational efficiency and high financial pressure will gradually exit. This phenomenon of "miner capitulation" actually indicates that the network is eliminating inefficient capacity, leaving behind more committed long-term participants.

It’s like saying: when market sentiment is pessimistic and weak hands are exiting, it’s often a good time for the strong to make their move. The 4% drop in Bitcoin’s hash rate is the largest since April, which could be setting the stage for the next upward wave.

I’ve always believed that understanding the mechanisms behind these market cycles is much more rational than simply chasing gains or panicking during dips. The fundamental logic of Bitcoin is always about balancing supply and demand. When mining costs rise and weak miners exit, network security doesn’t decrease—in fact, it increases. This is a good thing for long-term holders. Staying true to your beliefs and patiently waiting are often the best strategies.