Latest News
• Bitcoin miners are hoarding coins amid squeezed profits: U.S. Bitcoin miners are accumulating cryptocurrency to cope with shrinking profit margins due to increased competition and rising energy costs. Since November, companies like Mara Holdings, Riot Platforms, and CleanSpark have raised a total of over $3.7 billion to buy more Bitcoin. The recent Bitcoin reward halving has further increased production costs, with the cost to produce one Bitcoin currently around $106,000, while the trading price hovers around $102,175. Some miners are also exploring leasing data center capacity for artificial intelligence development to diversify revenue sources.
• Elon Musk's government role drives Dogecoin: Elon Musk has been appointed Director of the Department of Government Efficiency (D.O.G.E.), positively impacting Dogecoin's value. Following Donald Trump's election and commitment to support domestic Bitcoin production, Dogecoin's price surged by 88% to a three-year high of $0.47, stabilizing around $0.37 afterward. Musk's long-standing support for Dogecoin, including the acceptance of Tesla merchandise and SpaceX payments, continues to influence its market performance.
• Bitcoin's volatile trajectory amid regulatory optimism: Bitcoin's price recently broke the $100,000 mark, driven by optimism surrounding Donald Trump's presidency and anticipated favorable cryptocurrency regulations. Experts indicate potential for further increases, although volatility remains high. Institutional investments, such as MicroStrategy's $22 billion Bitcoin purchase in 2024, highlight growing corporate interest. However, Bitcoin's correlation with tech stocks and its speculative nature lead to significant price fluctuations, with predictions ranging from a surge to $200,000 to a drop to $70,000.
Major Price Fluctuations
• Bitcoin (BTC): Current trading price is $96,908, down 5.03% in the past 24 hours.
• Ethereum (ETH): Trading at $3,379.67, down 7.91% in the past 24 hours.
• Solana (SOL): Price is $202.37, down 7.05% in the last 24 hours.
• XRP (XRP): Currently at $2.27, marking a drop of 5.65% in the past day.
• Dogecoin (DOGE): Trading at $0.3488, down 9.74% in the past 24 hours.
Market Analysis
The crypto market is experiencing significant declines, with major assets like Bitcoin and Ethereum facing substantial drops. Bitcoin recently fell below $97,000, reflecting market volatility influenced by miner hoarding and rising production costs. Elon Musk's involvement in government roles continues to impact meme-based cryptocurrencies like Dogecoin, despite clear market corrections. Investors should remain cautious, as predictions of Bitcoin's future value vary widely, indicating potential for both significant gains and losses.
Cryptocurrency Price Speculation
In the short term, Bitcoin may find support around $95,000. If it cannot hold this support, it may drop further and potentially test lower support levels. Ethereum may test the $3,300 support, and if market sentiment improves, a rebound is possible. Investors should closely monitor regulatory developments, institutional investment trends, and macroeconomic factors, as these continue to affect cryptocurrency valuations.
#BTC##ETH##GateioInto11##ContentStar##HotTopicDiscussion#
Latest News
• Bitcoin miners are hoarding coins amid squeezed profits: U.S. Bitcoin miners are accumulating cryptocurrency to cope with shrinking profit margins due to increased competition and rising energy costs. Since November, companies like Mara Holdings, Riot Platforms, and CleanSpark have raised a total of over $3.7 billion to buy more Bitcoin. The recent Bitcoin reward halving has further increased production costs, with the cost to produce one Bitcoin currently around $106,000, while the trading price hovers around $102,175. Some miners are also exploring leasing data center capacity for artificial intelligence development to diversify revenue sources.
• Elon Musk's government role drives Dogecoin: Elon Musk has been appointed Director of the Department of Government Efficiency (D.O.G.E.), positively impacting Dogecoin's value. Following Donald Trump's election and commitment to support domestic Bitcoin production, Dogecoin's price surged by 88% to a three-year high of $0.47, stabilizing around $0.37 afterward. Musk's long-standing support for Dogecoin, including the acceptance of Tesla merchandise and SpaceX payments, continues to influence its market performance.
• Bitcoin's volatile trajectory amid regulatory optimism: Bitcoin's price recently broke the $100,000 mark, driven by optimism surrounding Donald Trump's presidency and anticipated favorable cryptocurrency regulations. Experts indicate potential for further increases, although volatility remains high. Institutional investments, such as MicroStrategy's $22 billion Bitcoin purchase in 2024, highlight growing corporate interest. However, Bitcoin's correlation with tech stocks and its speculative nature lead to significant price fluctuations, with predictions ranging from a surge to $200,000 to a drop to $70,000.
Major Price Fluctuations
• Bitcoin (BTC): Current trading price is $96,908, down 5.03% in the past 24 hours.
• Ethereum (ETH): Trading at $3,379.67, down 7.91% in the past 24 hours.
• Solana (SOL): Price is $202.37, down 7.05% in the last 24 hours.
• XRP (XRP): Currently at $2.27, marking a drop of 5.65% in the past day.
• Dogecoin (DOGE): Trading at $0.3488, down 9.74% in the past 24 hours.
Market Analysis
The crypto market is experiencing significant declines, with major assets like Bitcoin and Ethereum facing substantial drops. Bitcoin recently fell below $97,000, reflecting market volatility influenced by miner hoarding and rising production costs. Elon Musk's involvement in government roles continues to impact meme-based cryptocurrencies like Dogecoin, despite clear market corrections. Investors should remain cautious, as predictions of Bitcoin's future value vary widely, indicating potential for both significant gains and losses.
Cryptocurrency Price Speculation
In the short term, Bitcoin may find support around $95,000. If it cannot hold this support, it may drop further and potentially test lower support levels. Ethereum may test the $3,300 support, and if market sentiment improves, a rebound is possible. Investors should closely monitor regulatory developments, institutional investment trends, and macroeconomic factors, as these continue to affect cryptocurrency valuations.
#BTC重返10万 #ETH #GateioInto11 #ContentStar #HotTopicDiscussion
