This weekend's crash in the cryptocurrency market came suddenly and violently, with liquidation amounts exceeding $2 billion.

The whales that earned funds from traditional assets like gold and silver thought they could inject that money into cryptocurrencies, but the market showed no mercy and harvested them directly.

Bitcoin $BTC miners have seen a shutdown rate as high as 20% in the past two days, with the overall network hash rate plummeting from 1038 EH/s to 851 EH/s. The original mining cost was around $90,000, and this wave of shutdowns mainly affected older machines from the previous cycle, causing the overall cost to drop sharply to over $70,000. If the market continues to consolidate at these prices, miners will have to grit their teeth and endure.

If all the old machines from the previous cycle were to shut down, leaving only the new equipment from this cycle, the hash rate could potentially drop further to 400-500 EH/s, and the cost could be lowered to over $40,000. This wave of shutdowns might actually be a good opportunity to buy at a low price.

The miners' bottom line price is the bearish price of Bitcoin, and only in a bear market is it a good opportunity to buy and accumulate. The traditional bosses are not around, and there is a fire sale; it's uncertain whether the bosses are really gone or if they have jumped. But in the new cryptocurrency landscape, a shutdown truly signifies the miners' surrender. Pick up the bloody chips, and start accumulating now!