Bitcoin Retests $27,000 As Miners Participate In Biggest Selloff Since April
Bitcoin has been forced to make a retest of the $27,000 level in the past day as the miners have participated in a large selloff. Bitcoin Miners Have Sold 20,000 BTC In Past Week According to data from the market intelligence platform IntoTheBlock, BTC miners have done some significant selling during the last week. The […]
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On-chain shows Bitcoin miner outflows have been elevated recently, suggesting miners were involved in the recent selloff that took the price of the crypto below $42k. Bitcoin Miner Outflows Spiked Up Before The Crash Below $42k As pointed out by an analyst in a CryptoQuant post, BTC miners seem to have been one of the sellers behind the price drop to $42k. The relevant indicator here is the “miner outflow,” which measures the total amount of Bitcoin exiting wallets of all miners. When the value of this metric spikes up, it means miners are moving a large number of coins out of....
Ether now retests a critical resistance range for a potential pullback towards $1,800. It took Ethereum's native token Ether (ETH) only two months to recover from a brutal selloff at the beginning of 2022.ETH price breaks out but risks remainETH price reached near $3,350 on March 28 after rallying by over 30% in just two weeks, and by more than 50% when measured from its year-to-date low of around $2,160, established Jan. 24. In doing so, the ETH/USD pair may have also "busted" what earlier appeared to be a bearish continuation setup, called the "symmetrical triangle."ETH/USD daily price....
Bitcoin miners generated more than $56 million on average per day in April 2021, making it the industry’s second strongest month ever.
After the continuous sink in the mining profitability of both digital assets year-on-year, Bitcoin miners have been set back to seats as Ethereum miners consecutively surpassed them in mining revenue and recorded a gap of $224 million in April 2022. This month was not so good for Bitcoin miners as they were able to generate around $1.16 billion only. Notably, this figure is down by $44 million from the previous month’s mining revenue of Bitcoin. The last month saw $1.7 billion in recorded income. Related Reading | TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K....
Bitcoin has come a long way from where it was just under one year ago, with the March 12th selloff sending the cryptocurrency to lows of $3,800 – from which point it has seen exponential upside growth. One analyst is now noting that BTC’s days seeing sharp selloff events like this one are over, with its […]