Crypto Analyst Predicts $200,000 Price Tag For Bitcoin Using Miner Capitulation

Indeed, the Bitcoin price has been on a hot streak in recent weeks, returning to its past heights most investors have become accustomed to. However, the past week was a somewhat quiet one for the premier cryptocurrency, as it was for most of the digital asset market. Interestingly, the latest on-chain insights suggest that the crypto market, specifically the Bitcoin market, might not be inactive for too long.  BTC Price Momentum Shifts To Positive – Impact On Price? In a recent post on the X platform, popular crypto pundit Ali Martinez revealed that Bitcoin miner capitulation has....

Bitcoin has definitely performed on the bullish side for the past three weeks. Many investors are now convinced of the full return of bullish price actions, and various technical indicators support this surge in optimism. One such indicator is the hash ribbon, which highlights a positive price momentum for Bitcoin. Related Reading: Solana Set For 900% Rally With Breakout From This Pattern — Analyst The hash ribbon provides a compelling view of on-chain activity by tracking the behavior of miners, who are known to have a direct influence on the cryptocurrency’s price. Price Momentum....

An excerpt from Bitcoin Magazine's Deep Dive: How Bitcoin miner capitulation is driving the bitcoin price down.

Every crypto bear market has seen Bitcoin miner operations capitulating to stay financially afloat. This capitulation often marks a bottom for BTC and the crypto market, allowing it to consolidate before breaking into new highs.  Related Reading: RockItCoin Buys Toa Bitcoin That Houses Over 50 ATM Machines Across The U.S. However, the current Crypto Winter […]

Miner capitulation is here. Core Scientific talks about potential bankruptcy, highlighting that cash resources will be depleted by the end of the year.