Analysis: BTC hash rate has decreased by about 15% from its peak in October, and short-term supply pressure in the market may increase

According to CoinDesk, the Bitcoin network's hash rate has dropped about 15% from its peak in October, and miner capitulation has persisted for nearly 60 days.

The network's average hash rate has decreased from about 1.1 ZH/s in October to approximately 977 EH/s, indicating that miners are shutting down machines or capitulating as profitability declines. Additionally, Glassnode's Hash Ribbon indicator reversed on November 29, which reflects miner capitulation by tracking short-term and long-term hash rate trends. Currently, the short-term supply pressure in the Bitcoin market may further increase, and analysts expect that Bitcoin mining difficulty will likely experience its seventh downward adjustment on January 22, dropping to around 139 T.