Crypto Quant research director: Miners currently earn their lowest income since March 2020

Julio Moreno, head of research at Crypto Quant, said in a post on the X platform that there are signs that the average bitcoin miner is facing pressure after the halving, and miners are currently earning their lowest income since the COVID collapse in March 2020 due to the sharp drop in income after the halving.
Therefore, the hash rate decreased, causing the BTC network to experience its fourth negative difficulty adjustment of the year yesterday. In fact, we can see the decrease in the hash rate indirectly through a difficulty adjustment of -5.6%, which is the largest negative adjustment since November 2022 (a month after the FTX crash).