Bitcoin mining difficulty just fell 9.13 percent, the deepest cut since June. 📉
The KWIZERANA daily brief for November 14 reports Bitcoin difficulty printed minus 9.13 percent at block 975,744, the deepest cut since June, which normally gives miners breathing room. 📊 But the relief did not reach the price, Bitcoin fell about 8 percent in two days to near 66,754 dollars, and hashrate kept falling after the print, so miners are still under pressure even with easier difficulty. My reading is that a difficulty cut helps miners survive, it does not create buyers, and with spot ETFs on a seventh straight outflow day the market needs fresh demand, not cheaper mining.
Does cheaper mining slow the miner selling, or does the price slide keep eating the relief? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinMining
The KWIZERANA daily brief for November 14 reports Bitcoin difficulty printed minus 9.13 percent at block 975,744, the deepest cut since June, which normally gives miners breathing room. 📊 But the relief did not reach the price, Bitcoin fell about 8 percent in two days to near 66,754 dollars, and hashrate kept falling after the print, so miners are still under pressure even with easier difficulty. My reading is that a difficulty cut helps miners survive, it does not create buyers, and with spot ETFs on a seventh straight outflow day the market needs fresh demand, not cheaper mining.
Does cheaper mining slow the miner selling, or does the price slide keep eating the relief? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinMining
