BTCMiner 'Capitulation' and hash ribbon indicator suggest that the price may be bottoming out

robot
Abstract generation in progress

Odaily Star News BTCMining difficulty reached a historic high of 114.7T after a 5.6% increase last weekend. This coincides with the Hash Ribbon indicator, indicating that the price may have bottomed out. According to data from Glassnode, Miner Capitulation began in early February. BTC has fallen by more than 4% this month. As the difficulty increases, competition in mining becomes more intense, bringing more pressure to miners. The BTC mining output data for January reflects this, and Riot Platforms (RIOT) is the only large listed miner to report a monthly production rise. (Coindesk)

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)