Crypto Quant Research Director: Miners' current income is at its lowest since March 2020

Julio Moreno, Research Director at Crypto Quant, posted on platform X indicating signs that ordinary Bitcoin miners are under pressure after the halving, as their income has sharply declined to its lowest since the COVID crash in March 2020. As a result, the hash rate has decreased, leading to yesterday's fourth negative difficulty adjustment of this year for the BTC network. In fact, we can indirectly see the decrease in hash rate through a -5.6% difficulty adjustment which is the largest negative adjustment since November 2022 (a month after FTX crashed).