CryptoQuant: Bitcoin Miner Surrender Indicator Is Near Market Bottom Level After FTX Crash

The Bitcoin Miner Surrender Indicator is near the bottom of the market after the FTX crash. CryptoQuant data shows that daily miner revenue has fallen to $29 million from $79 million earlier this year, representing a 7.7% decrease in hashrate since the halving. Bitcoin is currently trading at $60,300, down 13% in the past 30 days. CryptoQuant believes that the market may rebound again to near $70,000 as the selling pressure intensifies. The significant decline in daily miner revenue and hashrate indicates that miners are facing serious challenges.