VanEck: Recent Bitcoin Miner 'Capitulation' May Signal Price Bottom

**Bitcoin Hashrate Drop May Signal Bullish Price Trend, VanEck Analysts Say** Dec. 23 (Cointelegraph) — VanEck analysts report Bitcoin’s network hashrate fell 4% month-over-month as of Dec. 15, a decline they note could bode well for the crypto’s price in coming months. Historically, miner capitulation (linked to hashrate drops) has been a contrarian bullish indicator. In a Monday report, VanEck Digital Asset Research Director Matt Sigel and Senior Investment Analyst Patrick Bush said persistent hashrate declines correlate with higher future returns. Key historical data (since 2014): - 30-day hashrate drop → 65% chance of positive 90-day returns; 30-day hashrate rise → only 54% chance. - 90-day hashrate decline → 77% chance of positive 180-day returns (avg ~72% gain); 90-day hashrate growth → 61% chance of positive returns.