New Bitcoin Lows? Analysts Say Chances Are ‘Extremely Slim’
Binance pool miner reserves slipped from 41,987 to 41,915 in May, a small but telling sign that selling pressure from miners has not fully stopped. Crypto analysts said that because Binance Pool controls a major share of global hash rate, its behavior tends to reflect how Bitcoin miners feel before the broader market catches on. Related Reading: Bitcoin Treasury Company Nakamoto Takes Action To Prevent Stock Slide The Miner Position Index remains below historical panic-selling levels, and the Puell Multiple — a gauge of miner revenue relative to long-term averages — is still under one.....
Related News
Ethereum has begun to bounce strongly since last week’s lows, correlating with a move higher in the price of BTC. ETH currently trades for $590, though moved extremely close to $600 earlier today. Analysts are optimistic that the cryptocurrency will continue its ascent in the days and weeks ahead as it holds key technical levels. […]
Texas Slim’s Beef Initiative provides a model for bitcoin adoption to connect Bitcoiners with necessary tradesmen in direct, peer-to-peer exchange.
Bitcoin has undergone an extremely strong rally since the March lows, rallying from $3,500 to $19,000 now. Analysts are hopeful that further growth is on the horizon. One top Bitcoin quantitative analyst “PlanB” recently said that BTC looks similar now to how it did in late 2016. As many remember, BTC rallied from around $800 at the start of 2017 to $20,000 by the end of the year. Bitcoin Looks Similar to How It Did […]
Decentralized finance (DeFi) coins have undergone an extremely strong recovery from last week’s lows. As of last night, at the highs of the recovery rally, there were a large number of top coins in the space that was up 100% from their lows. While some of these gains have since been reverted, DeFi is holding […]
It's taken just eight days in 2021 for bitcoin prices to surge more than 40%, and some analysts are starting to handicap the chances for a correction.