Recently, there have been clear signs of a correction in the Bitcoin mining market. From the October high point, the total network hash rate has already declined by 15%, reflecting a collective surrender by miners—this adjustment took nearly 60 days to manifest.

Changes in difficulty levels are also worth noting. According to forecasts, Bitcoin mining difficulty is about to decrease by 4%, marking the seventh negative adjustment out of the past eight adjustments. This frequent difficulty reduction indicates that the market is undergoing a process of capacity reduction.

More intriguingly, the total hash rate of the Bitcoin network has fallen below the critical support level of 1000 EH/s for the first time since mid-September. This data point is often seen as an important market sentiment indicator—it suggests that, against the backdrop of U.S. core CPI data falling below market expectations, miners' outlook on the future may be adjusting.