Bitcoin’s annual mining difficulty is heading toward its first net decline in history, dropping from 148.3 trillion to 126.2 trillion since end of 2024. This situation results from the 26% decline in Bitcoin’s price since the beginning of the year and the severe compression of mining margins, with the average cost of mining one BTC standing at $76,100 while the market price hovers around $65,000. The network’s total hash rate has fallen nearly 20% from its historical peak. This phase of miner capitulation is traditionally viewed as a reliable signal that a major price bottom is forming.
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