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On-chain data suggests that Bitcoin’s mining difficulty will be reduced in the next automatic adjustment, which occurs approximately every two weeks. This comes after four consecutive increases in difficulty, which is good news for miners.
The difficulty adjustment is done to keep the block production rate at around 10 minutes. Recently, the average block production time has dropped to 10.50 minutes, indicating that miners are slowing down. The network is expected to reduce the difficulty by around 5% to compensate.
This difficulty reduction is related to the recent drop in Bitcoin’s hashrate. The decrease in hashrate makes it easier for miners to compete, allowing them to have a better chance of mining blocks with less computing power.

This adjustment relieves the pressure that successive difficulty increases have put on miners.