A company that is changing the way the world mines bitcoin

Crypto Potato 2025-02-12 07:35:30

This Metric Indicates Bitcoin Miners Are Capitulating: CryptoQuant

As bitcoin (BTC) continues to trade a few thousand dollars below $100,000, miners are struggling to run their operations, and as a result, most of them are capitulating. A report by CryptoQuant analyst Darkfost revealed that the Hash Ribbons metric, an indicator that tells the health of the Bitcoin network by tracking hash rate fluctuations, has just flashed again. This metric often shows face when miners are capitulating. Bitcoin Miners Are Capitulating Miner capitulation refers to a period when miners are unable to cover the costs of their operations and have to sell their BTC reserves or exit the market entirely. This often happens when the price of BTC declines, and less efficient miners are mostly affected because they do not earn enough bitcoins to cover their operational costs. Bitcoin miners usually keep some or all of the BTC they mine to be sold during bull markets for maximized returns, but they are forced to offload their holdings during capitulation. BTC was worth $96,700 at press time, down slightly in the past 24 hours. The cryptocurrency has been changing hands under $100,000 over the last seven days, consolidating between the $91,000 and $102,000 price bands. This range-bound movement has made producing Bitcoin blocks less profitable for miners, hence the capitulation. Darkfost mentioned that the Hash Ribbons indicator has historically been a reliable signal, although the metric missed once during the COVID-19 market crash in 2020. It is also worth noting that the Hash Ribbons metric highlights optimal entry zones for investors looking to position themselves for mid-term and long-term price appreciation. Interestingly, a Bitcoin rally has followed each Hash Ribbon flash in the past. With Bitcoin miner capitulation often serving as a precursor to price bottoms in the past, it is safe to say that BTC may experience significant upside action soon. Bitcoin Hash Rate Surges The latest update in Bitcoin miner behavior comes as the network’s hash rate and mining difficulty hit all-time highs (ATH). CryptoPotato reported on February 10 that the Bitcoin hash rate hit an ATH of 845 million on February 8, while the mining difficulty spiked by 5.61% to 114.17 trillion during its last adjustment. Mining blocks on the Bitcoin network has become more difficult than a year ago; however, miners’ daily revenue is still low compared to last year. The post This Metric Indicates Bitcoin Miners Are Capitulating: CryptoQuant appeared first on CryptoPotato .

Meist gelesene Nachrichten

The Best Crypto To Buy As Oklahoma Votes To A...
2025-02-12
DOGE Enthusiasts Reevaluate 1Fuel as a Promis...
2025-02-12
DOGE Traders Take a Second Look At 1Fuel as a...
2025-02-12
Man Pleads Guilty to Hacking Official SEC X A...
2025-02-12
Ethereum's Path to $10K by 2025 Seems Inevita...
2025-02-12
Ethereum’s 2025 Run To $10K Looks Likely, But...
2025-02-12
The Evolution of Web3: Understanding the Next...
2025-02-12
XRP Whales Are Snapping Up This New Presale B...
2025-02-12

Ähnliche Neuigkeiten

Bitcoin Price Volatility Arises Amid Institutional...
12 Feb 2025
XRP price may crash 65%, Wyckoff Theory shows
12 Feb 2025
The Cardano (ADA) Trader Who Made Millions in XRP...
12 Feb 2025
Coinbase’s Market Leadership Highlights Potential...
12 Feb 2025
Bitcoin ETF Boom: BTC To $400K In The Next Decade,...
12 Feb 2025
Beyond Bitcoin: What to expect from tokenized asse...
12 Feb 2025

Lesen Sie den Haftungsausschluss : Alle hierin bereitgestellten Inhalte unserer Website, Hyperlinks, zugehörige Anwendungen, Foren, Blogs, Social-Media-Konten und andere Plattformen („Website“) dienen ausschließlich Ihrer allgemeinen Information und werden aus Quellen Dritter bezogen. Wir geben keinerlei Garantien in Bezug auf unseren Inhalt, einschließlich, aber nicht beschränkt auf Genauigkeit und Aktualität. Kein Teil der Inhalte, die wir zur Verfügung stellen, stellt Finanzberatung, Rechtsberatung oder eine andere Form der Beratung dar, die für Ihr spezifisches Vertrauen zu irgendeinem Zweck bestimmt ist. Die Verwendung oder das Vertrauen in unsere Inhalte erfolgt ausschließlich auf eigenes Risiko und Ermessen. Sie sollten Ihre eigenen Untersuchungen durchführen, unsere Inhalte prüfen, analysieren und überprüfen, bevor Sie sich darauf verlassen. Der Handel ist eine sehr riskante Aktivität, die zu erheblichen Verlusten führen kann. Konsultieren Sie daher Ihren Finanzberater, bevor Sie eine Entscheidung treffen. Kein Inhalt unserer Website ist als Aufforderung oder Angebot zu verstehen