Bitcoin hashrate falls 33% from October 2025 high to 861 EH/s

Bitcoin's network hashrate dropping ~33% from the October 2025 peak suggests meaningful miner capitulation, higher unit costs, or reduced mining profitability and participation. While difficulty adjustments can partially offset the decline over time, a sharp hashrate contraction can raise near-term concerns around network security margins and miner balance-sheet stress, potentially increasing supply pressure from forced selling and weakening risk appetite in crypto.