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Analysts Call Miners' Reserve Dump a 'Strategic Move'
Bitcoin (BTC) bears are getting more ammunition, this time potentially from miners.
The miners of the largest cryptocurrency have started dumping their reserves. According to analytics firm CryptoQuant, this is a 'strategic move' as miners look to cover rising costs ahead of the halving.
According to CryptoQuant, miners' BTC reserves have significantly declined, while the number of BTC transfers to centralized exchanges has increased. This dynamic, the firm said, 'clearly shows strong selling pressure from the miner's side.'
In the run-up to a halving, miners typically sell their BTC to cover operational costs and prepare for future investments, as the competition in the sector intensifies with each block reward reduction.
#Bitcoin #bitcoincash #btccash #BTCUSD #btcNFT
$BTC
Bitcoin (BTC) bears are getting more ammunition, this time potentially from miners.
The miners of the largest cryptocurrency have started dumping their reserves. According to analytics firm CryptoQuant, this is a 'strategic move' as miners look to cover rising costs ahead of the halving.
According to CryptoQuant, miners' BTC reserves have significantly declined, while the number of BTC transfers to centralized exchanges has increased. This dynamic, the firm said, 'clearly shows strong selling pressure from the miner's side.'
In the run-up to a halving, miners typically sell their BTC to cover operational costs and prepare for future investments, as the competition in the sector intensifies with each block reward reduction.
#Bitcoin #bitcoincash #btccash #BTCUSD #btcNFT
$BTC
Bitcoin Cash Network Hashrate and Block Production Significantly Increase
#btccash
BlockBeats reports that on July 3rd, the overall hashrate, or computing power, of the Bitcoin Cash (BCH) network increased by 188% in the morning, peaking at 9.21 EH/s, according on statistics from fork.lol. Furthermore, there was a commensurate rise in the hourly block generation of the BCH network. It started off producing 5 blocks per hour in the morning and reached a peak of 17.5 blocks per hour before reverting to 11.5 blocks per hour.
It's crucial to remember that the ways in which data is calculated could fluctuate slightly throughout browsers. For example, the average hashrate for the last day is presently 8.06 EH/s according to BTC.com. The noteworthy surge in the hashrate and block generation of the Bitcoin Cash network suggests high level and computer power of the network
BlockBeats reports that on July 3rd, the overall hashrate, or computing power, of the Bitcoin Cash (BCH) network increased by 188% in the morning, peaking at 9.21 EH/s, according on statistics from fork.lol. Furthermore, there was a commensurate rise in the hourly block generation of the BCH network. It started off producing 5 blocks per hour in the morning and reached a peak of 17.5 blocks per hour before reverting to 11.5 blocks per hour.
It's crucial to remember that the ways in which data is calculated could fluctuate slightly throughout browsers. For example, the average hashrate for the last day is presently 8.06 EH/s according to BTC.com. The noteworthy surge in the hashrate and block generation of the Bitcoin Cash network suggests high level and computer power of the network
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Robert Kiyosaki: I don’t know much about Bitcoin, but it’s good that I bought it
Continuing to warn of a major economic crash and a fall in the US dollar, investor and author of the best-selling personal finance book Rich Dad Poor Dad Robert Kiyosaki insists that Bitcoin (BTC) and silver should be in every investor's portfolio.
Kiyosaki discussed the role of Bitcoin and silver in the financial world with Miles Franklin Precious Metals Investments CEO Andy Schectman and radio talk show host Charles Goyette.
While admitting he doesn't know much about the major cryptocurrency, the Rich Dad Poor Dad author said he believes Bitcoin's success is due to the "very smart people" who have invested in it and backed it.
#Bitcoin #BitcoinWorld #BTC. #btccash #BTCUSD
$BTC
Continuing to warn of a major economic crash and a fall in the US dollar, investor and author of the best-selling personal finance book Rich Dad Poor Dad Robert Kiyosaki insists that Bitcoin (BTC) and silver should be in every investor's portfolio.
Kiyosaki discussed the role of Bitcoin and silver in the financial world with Miles Franklin Precious Metals Investments CEO Andy Schectman and radio talk show host Charles Goyette.
While admitting he doesn't know much about the major cryptocurrency, the Rich Dad Poor Dad author said he believes Bitcoin's success is due to the "very smart people" who have invested in it and backed it.
#Bitcoin #BitcoinWorld #BTC. #btccash #BTCUSD
$BTC
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Bitcoin price fell below $42 thousand after the Fed meeting
The Bitcoin (BTC) rate dropped by more than 3% on the night of February 1, immediately dropping to $41,880 in pairs with the stablecoin Tether USD (USDT) on the Binance exchange. Then BTC partially recovered its losses, and at 9:30 Moscow time the first cryptocurrency was trading at $42.1 thousand.
Following a two-day meeting on January 30–31, the US Federal Reserve again left the rate in the range of 5.25–5.5%. Fed Chairman Jerome Powell said easing monetary policy too quickly or too much could reverse progress on inflation and ultimately require even tighter monetary policy to bring inflation back to 2%.
The second largest cryptocurrency Ethereum (ETH) corrected to $2.26 thousand over the course of the day, having lost about 3% in price over the course of the day. The local maximum for “ether” was reached on January 12 at $2,719 as investors waited for US regulators to approve spot ETFs for Ethereum, applications for which were submitted by BlackRock, Grayscale and Fidelity Investments.
#btccash #Bitcoin #BTCUSD #ETH2024 #Ethereum
The Bitcoin (BTC) rate dropped by more than 3% on the night of February 1, immediately dropping to $41,880 in pairs with the stablecoin Tether USD (USDT) on the Binance exchange. Then BTC partially recovered its losses, and at 9:30 Moscow time the first cryptocurrency was trading at $42.1 thousand.
Following a two-day meeting on January 30–31, the US Federal Reserve again left the rate in the range of 5.25–5.5%. Fed Chairman Jerome Powell said easing monetary policy too quickly or too much could reverse progress on inflation and ultimately require even tighter monetary policy to bring inflation back to 2%.
The second largest cryptocurrency Ethereum (ETH) corrected to $2.26 thousand over the course of the day, having lost about 3% in price over the course of the day. The local maximum for “ether” was reached on January 12 at $2,719 as investors waited for US regulators to approve spot ETFs for Ethereum, applications for which were submitted by BlackRock, Grayscale and Fidelity Investments.
#btccash #Bitcoin #BTCUSD #ETH2024 #Ethereum