Bitcoin miners' surrender 'and hash band indicators indicate that prices may hit bottom

Odaily Planet Daily reported that the difficulty of Bitcoin mining increased by 5.6% last weekend, reaching a historic high of 114.7 T. This is consistent with the Hash Ribbon indicator, indicating that the price may hit a bottom. According to Glassnode data, miners surrendered in early February. Bitcoin has fallen by over 4% so far this month. As the difficulty increases, mining competition becomes increasingly fierce, bringing more pressure to miners. The Bitcoin mining output data in January reflects this, and Riot Platforms (RIOT) is the only large listed miner to report monthly output growth. （Coindesk）