There Is Potential For More Capitulation From Bitcoin Miners
More announcements from public bitcoin miners on potential capitulation. Debt needs to be paid and cash is tight due to high hash rate and a low bitcoin price. The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.Latest Public Miner Developments After writing on the potential for public miner capitulation and covering Core Scientific’s possible bankruptcy route, there’s been a wave of....
Related News
Production costs for miners are around $34,000, and together with transaction fees, miners need not worry about another $40,000 support challenge on BTC/USD. The Bitcoin (BTC) mining business is bigger than ever at current price levels, and new data shows just how unlikely a mass miner sell-off really is.As noted by popular Twitter account @venturefounder on Jan. 14, even at $42,000, the BTC/USD trading pair is around 20% above miners' cost price.Miner capitulation behind "worst" BTC price dipsDespite falling a full $27,000 below all-time highs, BTC is more enticing than ever for miners.....
Miner capitulation is here. Core Scientific talks about potential bankruptcy, highlighting that cash resources will be depleted by the end of the year.
It may be as soon as August that miners start returning, and difficulty is already planning an uptick. Bitcoin (BTC) miners have been capitulating for almost two months, but an end to the squeeze could already be here.That was the conclusion from Blockchain infrastructure and cryptocurrency mining firm Blockware as it published its latest Intelligence Newsletter on July 29.Report: “Expect” capitulation to be done by SeptemberThe most recent edition of the market research series highlighted changes in the mining ecosystem apt to switch up a trend in place since early June.Miners, judging by....
The latest trend in the Bitcoin “hash ribbon” indicator has just formed a pattern that has historically been a buy signal for the crypto. Bitcoin Hash Ribbon Buy Signal Goes Off As Miner Capitulation Comes To An End As explained by an analyst on Twitter, the BTC miner capitulation phase seems to have ended today after going on for 71 days. Before trying to understand what the “hash ribbon” indicator does, it’s best to first take a look at the “hashrate” metric. The hashrate is a measure of the total amount of computing power connected to the....
Miners go from sellers to hodlers again as the worst of June's capitulation phase seems to pass. Bitcoin (BTC) miners now own more BTC than at any time in history as the impact of the past months' turbulence wears off.According to data from on-chain analytics firm CryptoQuant, miners' BTC holdings increased dramatically in July.Miners keep stacking satsIn the latest sign of miners recovering from recent price weakness, the amount of BTC in their wallets has hit a fresh all-time high.As noted by CryptoQuant contributor and analyst Jan Wuestenfeld, their combined balance totaled 1,865,272....