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

Autors NewsBTC - pirms 1 gada - Lasīšanas laiks: 3 minūtes
Trešdien, 7. gada 2022. decembris, 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?

Sākot ar šo rakstu, 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. 

Fed priekšsēdētājs Džeroms Pauels norādīja uz monetārās politikas mērenību, taču šī iespēja varētu kļūt mazāk iespējama. Jaunākie spēcīgie ASV ekonomikas dati varētu sniegt atbalstu turpmākai procentu likmju paaugstināšanai. 

Tirgus decembrī nosaka cenas vēl par 75 bāzes punktiem (bps). Papildus Fed stingrībai, karš starp Krieviju un Ukrainu palielina tirgus nenoteiktību. Konflikts sper soli atpakaļ galveno mediju virsrakstos, bet karadarbība saasinās. 

# KrievijaPutins saka, ka pieaug kodolkara draudi. Putins saka, ka Krievija kodolieročus uzskata par atbildi uz uzbrukumu. Saka, ka Krievijas kodolieroči ir atturošs faktors konfliktos. pic.twitter.com/5RMIc7UK6A

- Holger Zschaepitz (@Schuldensuehner) Decembris 7, 2022 

Vietējā vidē CryptoQuant dati tika kopīgoti ar NewsBTC no jaunākajiem datiem Bitfinex ziņot 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.

Papildus grūtībās nonākušajiem kalnračiem tirgū ir redzams, ka BTC īpašnieki pārdod savas monētas ar zaudējumiem. Iztērētās peļņas koeficienta (SOPR) rādītājs ir virs viena, kas nozīmē, ka investori kapitulē un izņem naudu pašreizējo makro apstākļu dēļ. 

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.

Oriģināls avots: ZiņasBTC