Analyzing the changes in average hash rate to measure miner capitulation in the bitcoin market can be a market indicator for miner capitulation.

For the first time since July 2021, Bitcoin mining difficulty has dropped significantly. Interestingly, the drop has happened not once but twice within the space of this month alone. Meanwhile, Pantera CEO believes that Bitcoin price could reach $400k by 2025. Bitcoin Mining Difficulty down According to data from Glassnode, Bitcoin’s mining difficulty dropped by

The post Russia-Ukraine Conflict Pushes Bitcoin Mining Difficulty Down; Pantera Capital CEO Predicts BTC Price At $400k by 2025 appeared first on CoinGape.

Five days ago, Bitcoin’s hashrate had shown improvement as it increased 15% over the course of ten days and today, the computational power remains above the 200 exahash per second (EH/s) region. Meanwhile, bitcoin miners caught another break on Thursday, as the network’s mining difficulty adjusted downward for the second time in a row, making…

The post Bitcoin Miners Catch a Second Break With Another Downward Difficulty Adjustment appeared first on Bitcoin News Miner.

On-chain data shows around 82% of the Bitcoin short-term holder supply is currently in loss, suggesting that capitulation may occur soon. 82% Of Bitcoin Short-Term Holder Supply Now In Loss, While Total STH Supply Declines According to the latest weekly report from Glassnode, the BTC STH supply is nearing all-time lows at the moment. However, 82% of it is being held at a loss. The “BTC short-term holder supply” is that part of the total Bitcoin supply that has been held for less than 155 days. The investors holding this supply are usually the likeliest to sell their coins off during market volatility, and especially when a capitulation flush out occurs. An on-chain indicator, the Bitcoin STH supply in profit/loss, tells us the percentage distribution between these coins being held at a profit and those being held at a loss. When a high amount of this supply is in loss, there may be more sell-side pressure in the market as short-term holders capitulate easily. Related Reading | Bitcoin MPI Rises To Highest Value Since March 2021, Bull Rally Soon? Now, here is a chart that shows the trend in the BTC STH supply over the history of the coin: Looks like the value of the indicator has declined over the years | Source: Glassnode's The Week Onchain - Week 11, 2022 As you can see in the above graph, the Bitcoin STH supply has been observing a constant downtrend over much of the history of the coin, and is currently near all-time low values. The decrease in this supply happens when some of the coins mature beyond the 155-day cutoff, thus becoming part of the “long-term holder supply” instead. Since short-term holders can be a big source of sell-side pressure, the number of coins held by them severely going down can be bullish for the price of the crypto. Related Reading | Bitcoin Hashrate Swells 15% Since Last Week As Analysts Expect Mining Difficulty To Increase However, while the supply is low right now, around 82% of it is currently in loss. So despite the decline in total supply, these coins in loss still amount to around 2.5 million BTC, and thus they can add quite significant sell pressure to the market. As macro uncertainties like the Russian invasion of Ukraine continue to loom over the Bitcoin market, these short-term holders may finally break and capitulate in case their coins remain in the red or go even deeper. BTC Price At the time of writing, Bitcoin’s price floats around $38.5k, down 1% in the last seven days. Over the past month, the crypto has lost 10% in value. The below chart shows the trend in the price of BTC over the last five days. BTC's price seems to have been in consolidation for a few days now | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Glassnode.com

Malaysia plans to fight electricity theft for Bitcoin mining and it proposed measures to counter illicit these activities for crypto mining so let’s find out how they are planning to do that in today’s latest Bitcoin news. Malaysia plans to fight electricity theft for BTC mining which has been on the rise. This has to […]

The mining difficulty of Bitcoin has lowered for the first time this year. The -1.49% adjustment breaks away from Bitcoin’s ...

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ETH mining is getting less profitable amid the network upgrade of Ethereum. The recent data published by on-chain analysis platform Glassnode shows that the ETH miner revenue has touched a low of $1.

January was a turbulent month for the crypto space as market participants saw a broad sell-off. Continued uncertainty about the proposed U.S. Fed rate hikes in March and growing tensions in Eastern Europe plagued the market for most of February, though prices rebounded at the…

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The Ethereum protocol has reached another milestone as the number of Ethereum 2.0 validators has surpassed 300,000. At the time of writing, the Ethereum 2.0 contract has over 9.6 million ether deposited worth more than $28.4 billion. Ethereum Beacon Chain Validators Jump Past the 300,000 Mark For quite some time now, Ethereum (ETH) network participants […]

The processing power behind the Bitcoin network has dropped 30% since the hashrate’s all-time high (ATH) on February 15, sliding from 249 exahash per second (EH/s) to 169 EH/s. Furthermore, four days from now, the network’s mining difficulty is expected to increase following the 4.78% epoch change on February 17. Bitcoin Hashrate Drops From 249 […]

The crypto volatility is not new to long-term investors. The digital currency market saw massive corrections in the past few years.

Intel’s new chips are powered by a high-performance miner to deliver up to 40 TH/s in a balanced environment.