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[Galaxy Research: Bitcoin Miners Have Entered the Capitulation Phase] According to a report by Jinse Finance, on June 21, Galaxy Research posted an analysis on the X platform stating that Bitcoin miners have entered the "capitulation" phase. Currently, Bitcoin mining difficulty has dropped more than 20% from its historical peak, marking the largest difficulty retracement since 2021. A significant drop in mining difficulty typically indicates that some miners are exiting the network due to profitability pressures, and the market is undergoing a hashrate adjustment phase.