Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’

Your favorite trader is saying Bitcoin (BTC) bottomed. At the same time, the top on-chain indicators and analysts are citing the current price range as a “generational buy” opportunity. Meanwhile, various crypto and finance media recently reported that Bitcoin miners sending a mass of coins to exchanges are a sign that $17,600 was the capitulation … Read more

3 charts showing this Bitcoin price drop is unlike summer 2021

Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reason to panic. BTC has been described as facing “a bear of historic proportions” in 2022, but just one year ago, a similar feeling of doom swept crypto markets as Bitcoin saw a 50% drawdown in weeks. Beyond price, … Read more

Bitcoin network power demand falls to 10.65GW as hash rate sees 14% drop

The overall power consumption of the Bitcoin (BTC) network recorded a drastic drop after mimicking the two-week-long fall in the mining hash rate, which reduced the commuting power for mining BTC blocks to 199.225 exahash per second (EH/s).  According to the data shared by the Cambridge Centre for Alternative Finance, the Bitcoin network recorded the … Read more

These 3 metrics suggest the Bitcoin price crash is not over

Bitcoin (BTC) near $20,000 is worrying the market, but after narrowly avoiding breaking support, is the worst really over? According to multiple on-chain indicators, it seems that max pain has yet to arrive this cycle. The stakes are high for many hodlers this week — almost 50% of the supply is being held at a … Read more

Bitcoin hash rate marks all-time high as BTC price drops below $25K

Bitcoin (BTC) hash rate, a network security measure based on computing power for mining, achieved a new all-time high (ATH) of 231.428 ExaHash per second (EH/s) amid an ongoing bear market that witnesses BTC price plunging below the critical $25,000 mark. Hash rate is directly proportional to the computing power of mining equipment for confirming … Read more

$30K BTC price has ‘severe impact’ on Bitcoin miner profits — analysis

Bitcoin (BTC) is squeezing its miners this month as suppressed prices threaten to impact profitability. The latest data shows both narrowing profit margins and miners waiting longer to recoup their initial investment. Miner production cost faces off with BTC price While Bitcoin miners have largely held off on major distribution as BTC/USD descends from all-time … Read more

Bitcoin daily mining revenue slumped in May to eleven-month low

Bitcoin mining revenue and profitability have continued to slide along with the asset’s price this year as the crypto winter deepens. May has been one of the worst months for Bitcoin miners in the past year as revenue and profitability continue to tank. Bitcoin daily mining revenue tanked as much as 27% in May, according … Read more

Gov’t says crypto miners consume 2% of total electricity in Russia

Crypto miners account for two percent of the total electricity consumption in Russia, according to the latest government estimate. The energy consumption share of the crypto mining industry has exceeded the country’s agricultural sector, showing signs of recovery after Russia fell out of the top three in the global Bitcoin (BTC) mining hash rate share. … Read more

Bitcoin network difficulty falls 4.3% to 29.897T, biggest drop in 10 months

The Bitcoin network witnessed a historic event on May 12 when the network difficulty attained its all-time high of 31.251 trillion as miners mined nearly 50,000 BTC of the remaining 2 million tokens. While the Bitcoin community rejoiced the added resilience to the network owing to the rising difficulty in mining a Bitcoin block, the … Read more

Contrarian Bitcoin investors identify buy zones even as extreme fear grips the market

Bitcoin (BTC) support at the $30,000 level has proven to be quite resilient amidst the turmoil of the past two weeks with many tokens in the top 100 now showing signs of consolidation after prices bounced off their recent lows. Fear & Greed Index. Source: Alternative.me During high volatility and sell-offs, it’s difficult to take … Read more