Bitcoin outlook: BTC poised for increased selling momentum amid miner outflows

Bitcoin outlook: BTC poised for increased selling momentum amid miner outflows
фото показано с : invezz.com

2023-5-20 13:46

The Twitter crypto community observed the latest Bitcoin (BTC) miner movements on 19 May. Cryptoquant tweeted about the decreasing Bitcoin miner reserves, suggesting upcoming selling momentum from miners.

Unveiling Miner Outflows: Clues Point to Significant $BTC Transfer to Binance.

"Miners' reserves are decreasing, indicating a selling pressure from the miners' side."
by @IT_Tech_PL

Link👇https://t.co/9gFmBoAeS4

— CryptoQuant.com (@cryptoquant_com) May 19, 2023

The chart displays a sharp dip in miner rewards following BTC’s surge to this year’s high in mid-April. Another miner dip emerged toward the April end, catalyzing price declines in the world’s leading crypto. Cryptoquant added that the latest reserves decline happened this week and matched with inflows to Binance.

Miners readying to sell?

Cryptoquant observed two transfers of 1,750 Bitcoin from a miner’s wallet to a crypto exchange. The analysts added that the transaction could have gone to Binance. The moves follow updates of declines in mining profitability. Moreover, some crypto pundits report that miners are already selling their stash.

#Bitcoin #Miners Sell $54 #Million Worth Of BTC Amidst Volatility: Traders Wary Of $20k-25k Range#azwhu#earthquake#swfc #Coldplay #우리햄냥이를자랑합니다 #CZBinance pic.twitter.com/MtbwQAIw9N

— Wolf Trade (@Wolftradecrypto) May 19, 2023

Meanwhile, the Hashrate index indicates mining profitability dipped to $0.076 TH/s – per day. The figure increased to $0.127 on 9 May following amplified transactions during the memecoin minting trend. Also, the hash price plunged by 38% over the past year, plummeting profits for Bitcoin miners.

Moreover, Bitinfocharts stated that hash rates are about to hit 373 EH/s highs. Considering this, high energy costs, and peak difficulty, crypto miners are experiencing challenges at current conditions.

Bitcoin bears roar

Moreover, the leading crypto may be experiencing soaring selling momentum due to the Bitcoin options – due for today’s expiry. BTC prices have declined from Monday’s $27.5K high, losing over 2% to $26,864 during the publication. The crypto welcomes the weekend with a weak foot.

These conditions might send the crypto toward the near-term support level of $26.3K. Intensified bearish activities will dip Bitcoin to the $25K value region. Nonetheless, the asset retains a bullish long-term bias.

The post Bitcoin outlook: BTC poised for increased selling momentum amid miner outflows appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Russian Miner Coin (RMC) на Currencies.ru

$ 675.38 (+0.00%)
Объем 24H $0
Изменеия 24h: -3.31 %, 7d: 8.80 %
Cегодня L: $675.2 - H: $675.38
Капитализация $1.018m Rank 99999
Доступно / Всего 1.507k RMC

miner bitcoin momentum btc selling tweeted cryptoquant

miner bitcoin → Результатов: 126


GMO выпускает улучшенную модель своего 7-нм ASIC-майнера

В понедельник, 2 июля, японский интернет-гигант GMO запустил новую, модернизированную модель своего 7-нм ASIC-майнера. Предыдущая модель, GMO miner B2, уже распродана. Новая модель, GMO miner B3, обещает показать более высокий хешрейт при майнинге биткоина и Bitcoin Cash и продаётся по той же цене, ...

2018-7-3 18:29


EWBF Cuda Equihash Miner v0.1 — новый майнер для добычи монет на GPU

Классический алгоритм Equihash (equihash 200,9) для добычи ZCash (ZEC), пожалуй, стал уже неотъемлимой частью ASIC-майнеров, но это не означает, что модифицированные версии этого алгоритма не могут использоваться для майнинга на GPU и добычи других монет.

2018-7-2 08:58


Фото:

Mining Round-Up: Ebang Files for IPO in HK, Miner Arrested in China

In recent mining news, major mining chip manufacturer Ebang Communications has filed for an Initial Public Offering (IPO) in Hong Kong, a Chinese miner has been arrested for allegedly stealing 150,000 kilowatt-hours (kWh) of electricity in roughly one month, and a report has provided unique insight into the state of mining in the Russian exclave […] The post Mining Round-Up: Ebang Files for IPO in HK, Miner Arrested in China appeared first on Bitcoin News.

2018-6-28 12:55


Китайская компания Canaan выпустила новый ASIC Miner

Похоже, что Avalon ASIC-майнеры от китайской компании Canaan не столь известны на рынке в отличие от устройств, выпускаемых Bitmain, но это не значит, что ей нечего предложить. Её последнее создание — 156 THS Canaan Moose Bitcoin ASIC Miner – представляет собой интегрированное решение: ASIC Miner на алгоритме SHA256  для добычи биткойна (BTC), уже готовый к […] The post Китайская компания Canaan выпустила новый ASIC Miner appeared first on .

2018-6-23 06:03