{"id":59106,"date":"2026-02-25T11:08:28","date_gmt":"2026-02-25T15:08:28","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/thune-presses-trump-for-cornyn-endorsement-as-texas-primary-looms-bitcoin-miner-capitulation-signals-market-bottom\/59106\/"},"modified":"2026-02-25T11:08:28","modified_gmt":"2026-02-25T15:08:28","slug":"thune-presses-trump-for-cornyn-endorsement-as-texas-primary-looms-bitcoin-miner-capitulation-signals-market-bottom","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/thune-presses-trump-for-cornyn-endorsement-as-texas-primary-looms-bitcoin-miner-capitulation-signals-market-bottom\/59106\/","title":{"rendered":"Thune Presses Trump for Cornyn Endorsement as Texas Primary Looms; Bitcoin Miner Capitulation Signals Market Bottom"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Senate Majority Leader John Thune<\/strong> is actively lobbying <strong>Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> to endorse <strong>Senator John Cornyn<\/strong> in the Texas GOP primary, warning that a loss could force the party to divert up to <strong>$200 million<\/strong> in general election funds to defend the seat.<\/li>\n<li><strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>)<\/strong> is showing signs of a major price bottom as a three-month &quot;miner capitulation&quot; phase nears its end, a technical signal that historically preceded the <strong>November 2022<\/strong> market recovery.<\/li>\n<li>The <strong>Hash Ribbon<\/strong> indicator is approaching a bullish crossover, suggesting that the network stress which saw <strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>)<\/strong> drop from <strong>$90,000<\/strong> to <strong>$60,000<\/strong> is finally abating.<\/li>\n<li><strong>Texas Attorney General Ken Paxton<\/strong> currently leads <strong>Cornyn<\/strong> by approximately <strong>7 percentage points<\/strong> in recent polling, heightening the urgency for establishment Republicans to secure <strong><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>\u2019s<\/strong> &quot;kingmaker&quot; endorsement before the <strong>March 3<\/strong> primary.<\/li>\n<\/ul>\n<h2>Thune Seeks Trump Intervention in Texas Primary<\/h2>\n<p>Senate Majority Leader <strong>John Thune<\/strong> has confirmed multiple high-level discussions with <strong>Donald Trump<\/strong> regarding an endorsement for <strong>Senator John Cornyn<\/strong> in the upcoming Texas Republican primary. <strong>Thune<\/strong> is framing the endorsement as a critical &quot;business decision&quot; for the party, arguing that <strong>Cornyn<\/strong> remains the strongest candidate to hold the seat in a general election.<\/p>\n<p>The Texas primary, scheduled for <strong>March 3, 2026<\/strong>, has become a flashpoint for the GOP as <strong>Cornyn<\/strong> faces a fierce challenge from <strong>Ken Paxton<\/strong> and <strong>Representative Wesley Hunt<\/strong>. Internal party concerns are mounting that a <strong>Paxton<\/strong> victory could jeopardize the Republican majority by forcing the party to spend between <strong>$100 million and $200 million<\/strong> in Texas\u2014funds that would otherwise be deployed in battleground states like Georgia or New Hampshire.<\/p>\n<p>Despite the pressure from <strong>Thune<\/strong>, <strong>Trump<\/strong> has remained strategically neutral, stating he supports &quot;all three&quot; major candidates. This neutrality has left the race wide open, with <strong>Paxton<\/strong> currently leading <strong>Cornyn<\/strong> <strong>38% to 31%<\/strong> in recent surveys from the University of Houston.<\/p>\n<h2>Bitcoin Miner Capitulation Nears Exhaustion<\/h2>\n<p>In the digital asset markets, <strong>CoinDesk<\/strong> analysis indicates that the period of <strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>)<\/strong> miner capitulation is entering its final stages. This phase, which began in late 2025, has seen miners under extreme financial strain as the price of <strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>)<\/strong> fell nearly <strong>33%<\/strong> from its November highs.<\/p>\n<p>The <strong>Hash Ribbon<\/strong> indicator, which tracks miner activity, is on the verge of a bullish crossover. Historically, this signal has been a reliable predictor of price bottoms, most notably during the <strong>November 2022<\/strong> cycle when <strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>)<\/strong> bottomed near <strong>$15,500<\/strong>. Currently, <strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>)<\/strong> is trading around <strong>$66,000<\/strong>, which is notably near the estimated average production cost for many mining operations.<\/p>\n<p>Market participants are closely watching the behavior of public mining firms for signs of total exhaustion. <strong>Bitdeer Technologies Group (<a href=\"\/stock\/BTDR\">BTDR<\/a>)<\/strong> recently reported liquidating its entire corporate <strong>Bitcoin (<a href=\"\/stock\/BTC\">BTC<\/a>)<\/strong> treasury, a move often viewed as a &quot;final flush&quot; of sell-side pressure. Conversely, <strong>MicroStrategy (<a href=\"\/stock\/MSTR\">MSTR<\/a>)<\/strong> (now known as <strong>Strategy<\/strong>) continues its aggressive accumulation strategy, recently adding another <strong>2,486 BTC<\/strong> to its holdings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Senate Majority Leader John Thune is actively lobbying Donald Trump to endorse Senator John Cornyn in the Texas [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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