Bitcoin miners are still capitulating, according to Ki Young Ju, founder of Cryptoquant. His analysis on X (formerly Twitter) indicates that miners have succumbed to the ongoing bearish market trend. Currently, the average daily mined BTC sits at 72% of the yearly average, far from the 40% needed to signal the end of capitulation.
Ki Young Ju advises investors to brace for a long-term bullish market, despite the next few months being “boring.” He recommends minimizing risk during this period.
Additionally, the Cryptoquant CEO addressed concerns about the Mt. Gox 47,000 BTC movement, explaining it was an internal transfer and unlikely to impact market prices significantly.
