According to the source, JPMorgan said the Bitcoin network hashrate fell for the second consecutive month in December, marking a two-month downtrend in mining activity (source: JPMorgan research note, January 2026). Bitcoin’s protocol reduces mining difficulty after sustained hashrate declines roughly every 2016 blocks, which can temporarily alter miner economics and block interval dynamics that traders monitor for BTC supply impacts (source: Bitcoin.org Developer Guide). Traders should watch the timing and magnitude of the next difficulty adjustment and any JPMorgan updates on miner conditions to gauge near-term BTC market reaction (source: JPMorgan research; source: Bitcoin.org Developer Guide).