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....
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On-chain data shows the Bitcoin Hash Ribbons are signaling that the miners are still under immense pressure as their capitulation continues. Bitcoin Hash Ribbons Are Yet To Signal End Of Miner Capitulation In a post on X, CryptoQuant community manager Maartunn has shared what the latest trend in the Bitcoin Hash Ribbons has been looking […]
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.....
Amidst a backdrop of declining Bitcoin prices and economic uncertainty, renowned crypto analyst Willy Woo has offered a forecast that suggests a complex road ahead for BTC, with potential gains on the horizon after some ‘inevitable’ turbulence. Bitcoin Rally Hangs On Miner Capitulation, How? Bitcoin’s current market behavior is largely influenced by its miners, whose actions can significantly impact its price. According to Willy Woo, the key to understanding when Bitcoin might start its recovery lies in observing miner capitulation and the subsequent recovery of the hash....
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....