Odaily Planet Daily reports that Bitcoin's hashrate has fallen significantly due to rising oil prices caused by the Middle East conflict, putting pressure on miners and the overall market. Over the past week, the network hashrate has decreased by approximately 8% to 920 EH/s, suggesting a possible new round of miner capitulation, typically accompanied by downward price pressure. The current Bitcoin price is below $72,000, down about 5% from Monday's high. The network is expected to undergo a difficulty reduction of approximately 8%, the second largest negative adjustment in the past five years. Previously, in mid-February, Bitcoin also experienced a historically significant difficulty reduction, indicating volatile mining activity. Analysts point out that the pressure on miners stems from increased competition, persistently low transaction fees, and Bitcoin price volatility, leading to compressed profit margins. Many listed mining companies are diversifying their operations, including into AI and high-performance computing, while increasing Bitcoin sales to maintain operations, which also exerts some resistance to Bitcoin prices. (CoinDesk)