Block height 953568 witnesses the 11th largest difficulty adjustment, and the 15.6-day cycle indicates that the computing power is undergoing a silent reshuffle, with miners even lining up to exit during the bear market.

Wu said that, according to Galaxy Research data, Bitcoin completed the 11th largest mining difficulty adjustment in history at block height 953,568, with the difficulty decreasing from 138.96T to 124.93T, a drop of 10.09%, making it the second-largest decrease in 2026. Galaxy Research stated that in June, Bitcoin's price fell by about 15%, squeezing miner profit margins, leading to some hash rate going offline, causing this difficulty cycle to last 15.6 days, longer than the targeted cycle of about 14 days.