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

Eftir NewsBTC - 1 ári síðan - Lestrartími: 3 mínútur
Miðvikudagur 7. desember 2022 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?

Eins og með þetta skrifar, 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. 

Seðlabankastjóri Jerome Powell gaf í skyn að stilla peningastefnuna í hóf, en sá möguleiki gæti orðið ólíklegri. Nýlegar öflugar efnahagsupplýsingar í Bandaríkjunum gætu veitt stuðning við frekari vaxtahækkanir. 

Markaðurinn er að verðleggja aðra 75 punkta (bps) hækkun fyrir desember. Auk þess að herða á seðlabankanum eykur stríðið á milli Rússlands og Úkraínu enn frekar á óvissu markaðarins. Átökin eru að stíga skref aftur á bak í fyrirsögnum almennra fjölmiðla, en ófriður magnast. 

#RussiaPútín segir hættu á kjarnorkustríði vera að aukast. Pútín segir að Rússar líti á kjarnorkuvopn sem viðbrögð við árás. Segir að kjarnorkuvopn Rússa séu fælingarmáttur í átökum. mynd.twitter.com/5RMIC7UK6A

- Holger Zschaepitz (@Schuldensuehner) Desember 7, 2022 

Á staðnum, gögnum frá CryptoQuant deilt með NewsBTC frá því nýjasta Bitfinex tilkynna 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.

Til viðbótar við námuverkamenn í erfiðleikum, er markaðurinn að sjá BTC-eigendur selja mynt sína með tapi. Spent-Out Profit Ratio (SOPR) vísirinn stendur yfir einum, sem þýðir að fjárfestar eru að gefast upp og greiða út vegna núverandi þjóðhagsaðstæðna. 

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.

Upprunaleg uppspretta: NewsBTC