Bitcoin miners are usually some of the longest holders of BTC but that is usually when the bull market is in full swing and they do not have to worry about cash flow. Currently, the cash flow on bitcoin miners has plummeted and as the price of the digital asset continues to trend low, bitcoin…
On-chain data shows the Bitcoin miner selling power is at its lowest for the year, something that could be favorable for the price of the crypto. Bitcoin Miner Selling Power Has Been Going Down In Recent Weeks As pointed out by an analyst in a CryptoQuant post, the metric has observed surges in its value…
Last week, the bitcoin hashrate touched a new all-time high after tremendous growth. While this was a welcome development, it had significant implications for the next mining difficulty adjustment which took place on Monday. As expected, the difficulty adjustment had jumped by double-digits, beating even the highest of forecasts. Difficulty Adjusts By 13.5% Over the…
Puell multiple is an indicator that has historically given hints about previous Bitcoin cycles, here’s what it says about the current bear market. Bitcoin Puell Multiple Has Been Going Up During The Last Couple Of Months According to the latest weekly report from Glassnode, miners are currently raking in just 63% of the revenues of…
On-chain data shows miners have sent a large amount of Bitcoin to spot exchanges recently, something that can be bearish for the value of the crypto. Bitcoin Miners To Spot Exchanges Flow Has Surged Up Over The Past Day As pointed out by an analyst in a CryptoQuant post, the latest spike in the miner…
Public bitcoin mining firms have been caught between a rock and a hard place with the decline in bitcoin prices. As their cash flow had declined significantly, they had turned to sell BTC to be able to keep up with the costs of their operations. The massive stash of BTC that these public miners had…
Data shows the Bitcoin miner reserves have continued to trend downwards recently, suggesting that miners have been dumping their coins. Bitcoin Miners Have Been Withdrawing From Their Wallets In Recent Days As pointed out by an analyst in a CryptoQuant post, BTC miner reserves have been observing negative change recently, something that could lead to…
Bitcoin miners have borne the brunt of the bear trend since it began. They watched cash flow plummet on their machines, forcing them to look to other ways to finance their operations. The natural response to this was for public miners to dip into their bitcoin reserves and begin selling off BTC to keep their…
Given that the price of Bitcoin has been lingering above the $17K–$20K range over the past few weeks, Bitcoin’s sharp downturn has come to an end. The price is currently retesting the $23K resistance level after being rejected three times from the $20K support area. Bitcoin Advocates Rejoice The market flashed its first significant relief…
After the official US inflation numbers were released, bitcoin prices started to rise. However, during the previous month, the BTC miners have increased their outflow. A new set of tax policies targeted at preventing domestic cryptocurrency mining were unveiled by Kazakhstan, which is still a significant nation in the world of Bitcoin mining. During a…