Bitcoin Nears Chain Split as BIP-110 Rebels Defy Global Hashpower

Bitcoin is approaching a potential chain split tied to the BIP-110 reduced-data soft fork, but support remains extremely weak at just 2.45% of counted signaling blocks. The proposal would restrict certain transaction data, especially content used by Ordinals and token protocols, and could force a minority chain if enforcing nodes reject nonsignaling blocks starting around block 961,632. However, major mining pools, exchanges, and custodians are largely refusing to support the change, making a credible split unlikely. The article argues that unlike the 2017 fork era, today’s BTC is held more by ETFs, corporates, and institutional custodians, reducing the odds that a fringe asset gains liquidity or market acceptance. Market impact appears limited for ordinary BTC holders, though operational risk could rise temporarily around the activation window due to replay hazards and exchange contingency measures.