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Bitcoin miners are oversold after a 35% rout in October, according to VanEck, as investors indiscriminately sold AI infrastructure providers across sectors in a single trade. The firm’s view points to a disconnect between miners’ fundamentals and the broad selloff, with BTCUSD-linked equities bearing the brunt of the October drawdown.
VanEck Says Bitcoin Miners Oversold After 35% October Rout
Bitcoin miners look oversold after a 35% rout in October, according to VanEck.
The firm’s assessment points to a disconnect between miners’ fundamentals and the broad selloff, with BTCUSD-linked equities bearing the brunt of the October drawdown.
AI Infrastructure Trade Blamed
VanEck said investors dumped AI infrastructure providers across the board in October, treating companies in very different sectors as one monolithic trade.
According to the firm, that indiscriminate selling hit bitcoin miners alongside other AI infrastructure names, even though the companies operate in very different sectors.
Key Points
- Bitcoin miners fell 35% in October, per VanEck.
- The firm describes miners as oversold following the decline.
- Investors sold AI infrastructure providers “across the board,” treating them as a single trade.
- BTCUSD-linked equities absorbed the brunt of the October drawdown.
The article was published by CoinDesk on November 5, 2026.