Bitcoin Miners Feel The Heat, More Selling Pressure Might Be Imminent

Autor NewsBTC - 1 aasta tagasi - Lugemisaeg: 3 minutit
kolmapäeval, 7. detsembril 2022 kell 4:08

Bitcoin Miners Feel The Heat, More Selling Pressure Might Be Imminent

Bitcoin is still stuck in a tight range as market sentiment declines from optimistic to bearish and market participants brace for a possible impact. The cryptocurrency was thriving on the possibility of a positive change in the macroeconomic landscape. Did bulls rush into a trap?

Sellest kirjast alates Bitcoin (BTC) trades at $16,800 with sideways movement in the last 24 hours. In the previous week, the cryptocurrency is holding onto some profits, but there is a chance the bullish trajectory will retrace back to the yearly lows. 

Bitcoin Miners Will Contribute With The Downside Price Action?

On the macro scene, the U.S. Federal Reserve (Fed) is the biggest hurdle for future Bitcoin profits. The financial institution is trying to bring inflation down by hiking interest rates. This monetary policy has harmed risk-on assets. 

Föderaalreservi juht Jerome Powell vihjas rahapoliitika pidurdamisele, kuid see võimalus võib muutuda vähem tõenäoliseks. Hiljutised tugevad USA majandusandmed võivad toetada intressimäärade edasist tõstmist. 

Turg seab detsembriks hinnatõusu veel 75 baaspunkti (bps). Lisaks Föderaalreservi karmistamisele lisab turu ebakindlust Venemaa ja Ukraina vaheline sõda. Konflikt astub peavoolumeedia pealkirjades sammu tagasi, kuid vaenutegevus süveneb. 

#VenePutini sõnul on tuumasõja oht tõusuteel. Putin ütleb, et Venemaa peab tuumarelvi vastuseks rünnakule. Ütleb, et Venemaa tuumarelvad on konfliktide heidutav tegur. pic.twitter.com/5RMIc7UK6A

- Holger Zschaepitz (@Schuldensuehner) Detsember 7, 2022 

Kohalikul stseenil jagati CryptoQuanti andmeid NewsBTC-ga viimastest Bitfinex aru indicates that BTC miners are “moving a large amount of Bitcoin out of their wallets.” These transactions are often bearish indicators for the cryptocurrency. 

Miners take out BTC to sell in the market and cover their operations costs. This selling contributes to BTC’s bearish pressure. Bitfinex noted the following while sharing the chart below: 

On the other hand, when the value of the indicator decreases, this indicates that miners are withdrawing coins from their wallets. Such a trend could be bearish for Bitcoin since the miners could be transferring their coins out of their wallets in order to sell them on exchanges. BTC exchange inflows have also increased slightly over the past week after declining significantly over the few weeks prior to that.

Lisaks raskustes kaevuritele on turul näha, et BTC omanikud müüvad oma münte kahjumiga. SOPR (Sult-Out Profit Ratio) indikaator on üle ühe, mis tähendab, et investorid kapituleeruvad ja rahastavad praeguste makrotingimuste tõttu. 

Bitfinex highlighted increased retail investors holding BTC as a positive takeaway from this data. These investors are adding to their balance while the price trends to the downside. These investor classes, the report claims, are “resilient in the face of price drawdowns” and could finally put a bottom in the BTC price.

Algne allikas: UudisedBTC