The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Witnesses Historic Drop in Mining Difficulty Rate Due to China Crypto Exodus

by Daily Hodl Staff
July 4, 2021
in Bitcoin, Mining

The autonomous Bitcoin network has experienced the largest drop in mining difficulty in its history.

The change has reduced the level of computing power necessary to process Bitcoin transactions by 28%, ensuring new blocks are mined at the target rate of one block every 10 minutes.

The “difficulty adjustment” is a stabilization feature built into the network to ensure miners can stay profitable, and this week’s plunge was triggered by China’s crackdown on Bitcoin mining, which has forced many miners in the country to take their mining rigs offline.

Source: Glassnode

ByteTree Asset Management CEO Charlie Morris says the adjustment appears to be having a positive impact on network fees.

“Nice Bitcoin price move as the downward difficulty adjustment passes as expected this morning. Fees already $6 over the past hour compared to $10 yesterday. Hopefully, transactions can now start to pick up. They need to.”

Although the impact on Bitcoin’s price remains to be seen, on-chain analyst Willy Woo says historically, deep plunges in mining difficulty signal a positive shift in Bitcoin’s fundamentals.

“Today is the political version of ‘miners capitulation’, selflessly brought to you at much sacrifice by China.

Miner’s capitulation has historically been a good bottom indicator.”

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Submit a Press Release

Industry Announcements

  • Meta Earth Network 2.0 – Pioneering Web 3.0 Innovation With Rewards and Global Events
    June 20, 2025
  • Perceptron Network Merges With BlockMesh To Create First End-to-End Decentralized AI Data Infrastructure
    June 20, 2025
  • Bubblemaps Integrates With TON, Enhancing Transparency in Telegram’s Native Blockchain Ecosystem
    June 19, 2025
  • NATIX Network Launches DePAI Initiative, Merging DePIN Infrastructure With Decentralized AI
    June 19, 2025
  • BitVault Raises $2 Million From GSR, Gemini and Auros To Launch BTC-Backed Money
    June 18, 2025
  • TAC Raises $11.5 Million To Bring DeFi to Telegram’s Billion-User Ecosystem
    June 18, 2025
  • Falcon Finance Launches Pilot Season of Falcon Miles Points Program To Reward Ecosystem Participants
    June 18, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$103,968.86
$103,968.86
0.23%
Ethereum
$2,488.74
$2,488.74
0.38%
BNB
$645.06
$645.06
0.84%
Solana
$142.64
$142.64
0.77%
XRP
$2.13
$2.13
1.36%

Spotlight

  • Hacker Strikes Mortgage Firm, Steals Personal Info From 30,453 People, Including Security Numbers, Names and Account Details
    June 13, 2025
  • $190,000 Bitcoin Within the ‘Realm of Possibility,’ According to Analyst Kevin Svenson – Here’s His Outlook
    June 13, 2025
  • Trump Calls Fed Chair Jerome Powell a ‘Numbskull,’ Claims Lack of Rate Cuts Are Costing US $600,000,000,000 a Year
    June 13, 2025
  • Here Are the Possible Bearish Targets for Bitcoin After BTC Fails To Break Out Above Major Level, According to Crypto Analyst
    June 13, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl