Miners

The post BRN Analyst: Bitcoin Miners Start Hoarding BTC for the Next Bull Run appeared first on Coinpedia Fintech News After a prolonged downturn, Bitcoin’s price has increased by 3% in the past 24 hours, trading at $69,625. The ongoing accumulation by miners and supportive external factors indicate a promising outlook for the largest digital asset by market cap. Is It the Start of a Bull Market?  Bitcoin miners may have initiated a new accumulation phase, according to BRN lead…

The post Bitcoin Transaction Fees Plummet to Four-Year Lows Amidst Miner’s Continue Selling appeared first on Coinpedia Fintech News Bitcoin transaction fees have reached their lowest point in four years, with the average cost per transaction dropping to $38.69 on July 7. Despite the reduced fees, Bitcoin miners continue to see profits thanks to decreased network difficulty and lower computational power requirements. Lowest Fees Since 2020 On July 7, the cost of Bitcoin transactions dropped to $38.69, a level not…

The cost of producing a Bitcoin is taking a toll on Bitcoin miners whose machines are struggling to yield profits due to the flagship digital asset’s price difficulties. According to data platform MacroMicro, the average cost of mining a single BTC at the start of June soared to $83,668 but slightly declined to around $72,000 as of July 2. Bitcoin Mining Machines Becoming Unprofitable James Butterfill, CoinShares’ head of digital research, shared data showing that Bitcoin price was hovering around…

Litecoin (LTC) miner reserves drop to a multi-year low as it reaches 1.61 million LTC ($120 million), representing a 29% fall according to data.  In addition to this, there has been a significant uptick in the network’s hashrate which is currently at its all-time high of 1.07k TH/s. Litecoin (LTC) has experienced a considerable decline in the last seven and thirty days, losing 16% and 28% of its value within the respective periods to trade at $62. According to our…

On-chain data shows that selling pressure from Bitcoin miners has recently slowed down. This is significant considering the impact it could have on Bitcoin’s price heading into the third quarter of the year.  Bitcoin Miners’ Selling Pressure Has Significantly Declined Referencing data from the on-chain analytics platform CryptoQuant, crypto analyst Crypto Dan noted that selling pressure from miners has significantly declined for two reasons. One is that the quantity of Bitcoin these miners sent to exchanges to sell has reduced…

The post Can Decreased Miners’ Selling Pressure Curb Further Bitcoin Price Decline Ahead? appeared first on Coinpedia Fintech News Bitcoin (BTC) price has continued to consolidate around $61k in the past four days, amid heightened fear of further crypto capitulation. The flagship coin has seen its daily Relative Strength Index (RSI) hover around the oversold level in the past week, thus signaling a possible BTC price rebound. However, the heightened demand for the altcoin market fueled by the upcoming listing…

The SEC's green light for Bitcoin and Ethereum ETFs has ignited a crypto boom, attracting new investors. While traditional avenues can be capital-intensive, 2024 presents a golden opportunity for retail and corporate investors to enter the game early. Cloud mining offers an accessible alternative path. Here's why it shines: forget expensive equipment and technical complexities. letting you start earning cryptocurrency with minimal investment.  1. AST Mining 2. Awesome Miner 3. Bitdeer 4. Kryptex Miner 5. Crypto Universe 6. Ecos 7.…

Bitcoin’s (BTC) price had rallied above $70,000 early this month amid a 19 consecutive inflow streak for the exchange-traded funds (ETFs). However, this rally has stalled, with the price now moving downwards. This could potentially lead to a second negative monthly close this year. Miners Divest $2 Billion Worth of Bitcoin Market analysts attribute this sluggish performance to significant selling by Bitcoin miners and recent outflows from spot ETFs. Matthew Sigel, head of digital research at Bitcoin ETF issuer VanEck,…

Recent data from CryptoQuant has highlighted a significant shift in Bitcoin Miners behavior, with miner reserves dropping to their lowest levels since 2010 while over-the-counter (OTC) selling activity has surged to higher levels. What This Means For BTC At the beginning of the year, miner reserves stood at approximately 1.87 million BTC but have yet to grow to about 1.81 million BTC today, a level not seen since 2010. This reserve decline is notable as it indicates a higher propensity…