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

پاران NewsBTC - 1 سال اڳ - پڙهڻ جو وقت: 3 منٽ
اربع، ڊسمبر 7، 2022 4:08 PM

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?

هن لکڻ جي شروعات ، 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. 

فيڊ چيئر جيروم پاول پوليٽيڪل پاليسي کي معتدل ڪرڻ تي اشارو ڪيو، پر اهو امڪان گهٽ ٿي سگهي ٿو. تازو مضبوط آمريڪي اقتصادي ڊيٽا وڌيڪ سود جي شرح وڌائڻ لاء مدد فراهم ڪري سگهي ٿي. 

مارڪيٽ ۾ قيمت آهي هڪ ٻي 75 بنياد پوائنٽس (بي پي ايس) ڊسمبر لاءِ اضافو. فيڊ جي سختي کان علاوه، روس ۽ يوڪرين جي وچ ۾ جنگ مارڪيٽ جي غير يقيني صورتحال ۾ اضافو ڪري ٿي. تڪرار مکيه اسٽريم ميڊيا جي سرخين ۾ هڪ قدم پوئتي وٺي رهيو آهي، پر دشمني وڌي رهي آهي. 

# روسياپوتن جو چوڻ آهي ته ايٽمي جنگ جو خطرو وڌي رهيو آهي. پيوٽن جو چوڻ آهي ته روس ايٽمي هٿيارن کي حملي جو جواب سمجهي ٿو. چوي ٿو ته روس جا ايٽمي هٿيار تڪرار ۾ هڪ رڪاوٽ عنصر آهن. pic.twitter.com/5RMIC7UK6A

هولگر زيشپيٽز (Schuldensuehner) ڊسمبر 7، 2022 

مقامي منظر تي، CryptoQuant کان ڊيٽا تازو کان NewsBTC سان حصيداري ڪئي وئي آهي Bitfinex رپورٽ 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.

جدوجهد کان علاوه، مارڪيٽ ڏسي رهيو آهي BTC هولڊر پنهنجن سکن کي نقصان ۾ وڪڻندا آهن. خرچ ٿيل منافعي جو تناسب (SOPR) اشارو هڪ کان مٿي آهي، مطلب ته سيڙپڪار سرمائيداري ڪري رهيا آهن ۽ موجوده ميڪرو حالتن جي ڪري پئسا ڪڍي رهيا آهن. 

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.

اصل ذريعو: نيوز بي ٽي سي