Hi Guys,
It's Big & Big #Alert!! About $BTC Miners !!!
BITCOIN MINING COMPANIES REPORT PRODUCTION DECLINE AS MARKET DYNAMICS SHIFT
Publicly traded bitcoin mining companies, including Bitfarms, Cipher, CleanSpark, Core Scientific, Riot, and Terawulf, have reported a decrease in production ranging from 6% to 12% for the month of April.
This decline comes as the robust bitcoin fee market briefly mitigated the impact of the halving, which occurred earlier.
Public bitcoin mining companies such as Bitfarms, Cipher, CleanSpark, Core Scientific, Riot, and Terawulf reported a production decline between 6 – 12% for April as the robust bitcoin fee market briefly hedged the halving’s impact. As Runes becomes less popular, it is expected…
As the popularity of Runes diminishes, it is anticipated that bitcoin production may see a significant year-over-year drop in May, reflecting shifting market dynamics and evolving trends within the cryptocurrency mining sector.
In a separate development, on-chain reports reveal the actions of a notable whale who recently capitalized on market opportunities. Just four days ago, this whale purchased bitcoin at the bottom of the market cycle.
Subsequently, the whale deposited 767 BTC, valued at $48.46 million, to Binance for profit. However, following a market downturn, the whale swiftly withdrew the same amount of bitcoin, totaling $45.44 million, from Coinbase on May 3rd.
Make more than $3M in just 4 days!
The whale who bought $BTC at the bottom 4 days ago deposited 767 $BTC($48.46M) to #Binance for profit 8 hours ago.
After the market dropped, he withdrew 767 $BTC($45.44M) at $59,226 from #Coinbase on May 3.
Bitcoin ETF Net Inflow Turns Positive
Spotonchain data indicates a positive net inflow of $217 million for Bitcoin ETFs in May 6, 2024.
Notably, Grayscale ETF ($GBTC) recorded another single-day inflow, albeit with a decrease in volume, while Fidelity ETF ($FBTC) led the pack with the highest inflow of $99.2 million among the ten Bitcoin ETFs.
