Checked the charts this morning. Here's what I'm thinking.
Big news hitting about $BTC mining difficulty. It's falling right now because of weak mining economics, with no real relief expected through year-end.
This isn't great, tbh. When miners are struggling and reducing capacity, it often means they're selling their $BTC to stay afloat.
That adds selling pressure to the market, especially when we see $BTC trading around $62823.65, barely holding steady after a -0.12% dip in 24h.
It's a tough environment, and it makes me pretty cautious on short-term movements across the board.
Even $ETH is feeling the pinch, currently at $1845.16 and down nearly 1% in the last day.
This mining pressure could keep a lid on any major upside for the time being. Staying patient and watching how this plays out for $BTC.
#CryptoOutlook #Bitcoin #MarketAnalysis #BearishBias #Mining
Big news hitting about $BTC mining difficulty. It's falling right now because of weak mining economics, with no real relief expected through year-end.
This isn't great, tbh. When miners are struggling and reducing capacity, it often means they're selling their $BTC to stay afloat.
That adds selling pressure to the market, especially when we see $BTC trading around $62823.65, barely holding steady after a -0.12% dip in 24h.
It's a tough environment, and it makes me pretty cautious on short-term movements across the board.
Even $ETH is feeling the pinch, currently at $1845.16 and down nearly 1% in the last day.
This mining pressure could keep a lid on any major upside for the time being. Staying patient and watching how this plays out for $BTC.
#CryptoOutlook #Bitcoin #MarketAnalysis #BearishBias #Mining