The Bitcoin price is trading at $68,820, and a fresh debate over miner behavior and hashrate strength is now shaping the recovery narrative. With BTC price today hovering near recent lows, a public clash broke out between two of the most renowned analysts, “cryptorand’ and ‘alicharts’ over whether on-chain signals are flashing a bottom or signaling more downside.✅ Miner capitulation ending
✅ Retail panic selling
Still, the chart suggests a tug-of-war. On the one hand, rising BTC hashrate implies operational commitment from miners, potentially signaling long-term confidence in Bitcoin’s crypto fundamentals.
On the other, continued miner selling and ETF outflows imply liquidity still needs to be absorbed before stabilization can take hold. That tension is what defines the current phase.
The bullish argument hinges on history repeating itself, that network resilience eventually overpowers short-term selling. On the contrary, the bearish case leans on real-time flows, arguing that as long as distribution persists, relief rallies could struggle to sustain traction.
In this standoff of opinions between cryptorand and alicharts, neither side is relying solely on speculation. Both point to measurable data: hashrate trends, miner reserve behavior, ETF activity, and visible retail panic.
Whether the Bitcoin price stabilizes from here or extends lower may ultimately depend on which force exhausts first, capitulating supply or sidelined demand waiting for confirmation.
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