Bitcoin Mining Difficulty Plummets by 7.48% in a Notable Adjustment

On June 29, following another recalibration, the mining difficulty of the first cryptocurrency experienced a decrease of 7.48%, bringing it down to 116.96 T.

This marks the second consecutive decline for the metric, with the current drop being the most significant in several years.

According to Glassnode, the hash rate (7-day moving average) has plummeted to 799 EH/s from nearly record highs.

Data from Hashrate Index indicates that the hash price has risen over the past 24 hours from $53 to $58 per PH/s daily. This mining profitability metric has rebounded to levels seen at the end of May.

At the time of writing, the price of the leading cryptocurrency is approximately $107,000, having increased by 4.5% over the week.

It’s worth noting that CryptoQuant reported that Bitcoin miners have increased their reserves by 4,000 BTC since April, despite a decline in their revenues. Simultaneously, participants from the «Satoshi era» have shifted toward accumulation.