🔔Analysts: Signals such as new high mining difficulty in Bitcoin may indicate that the price of the coin has reached a local bottom According to Mars Finance, Bitcoin mining difficulty hit a record high of 114.7 T after adjustments over the weekend, an increase of 5.61% from the last difficulty adjustment. It usually forms when miners surrender—that is, when mining costs exceed profits, suggest that Bitcoin may have a local bottom. According to Glassnode, miners surrender began in early February. Bitcoin has fallen by more than 4% so far this month. Historically, when this indicator sends a surrender signal, it usually marks a local bottom of the price. If this pattern holds, the bottom of Bitcoin could be around $91,000. The last surrender signal came in October 2024, and then Bitcoin soared 50%. As mining becomes more difficult, mining becomes more competitive, bringing additional pressure to miners. This is reflected in January production data, with Riot Platforms being the only major listed miner reporting month-on-month output growth. https://t.co/aqxa50ku44