China just tightened regulations on domestic Bitcoin mining again š¢
In Xinjiang alone, a huge chunk of mining operations were shut down in December š¢
Roughly 400,000 miners went offline in a very short window š¤
You can already see it in the data: Network hashrate is down around 8%.
When miners are forced offline like this, a few things happen fast:
ā They lose revenue immediately ā They need cash to cover costs or relocate ā Some are forced to sell BTC into the market ā Uncertainty spikes short term
That creates real sell pressure, not the other way around.
This isnāt a long-term bearish signal for Bitcoin.
Itās a temporary supply shock caused by a dumb policy, not demand.
Weāve seen this movie before.
China cracks down ā miners shut off ā hashrate dips ā price wobbles ā network adjusts ā Bitcoin moves on.
We should expect more pain in the short term, but long term this doesnāt even matter š„š¢
Algorand (ALGO) has been showing signs of accumulation, with steady volume and strong support around the $0.17ā$0.18 range. As institutional interest in Layer-1 solutions grows, ALGOās focus on scalability and low transaction fees could bring it back into the spotlight.
If Bitcoin maintains stability above $60k, we might see ALGO testing key resistance around $0.21 soon. Short-term holders should watch for breakout confirmation, while long-term investors may see this as a solid accumulation phase.
SUI has shown an impressive move today, gaining over 12% in 24 hours and nearly 74% over the past week. With strong buying volume and rising market interest, SUI is now trading around $6.80.
Investors are excited as bulls aim for the $7 mark soon. The momentum behind SUI suggests that it might continue its uptrend if Bitcoin stays strong.
If you missed the first breakout, watch closely ā SUI could still offer good entry points after small pullbacks. Always manage your risk properly!
What do you think? Will SUI break above $7 this week? Letās discuss below!
TRX is displaying bullish signs with positive Supertrend and MACD indicators. However, a significant sell wall may pose resistance. If buying pressure continues, a breakout could be imminent.
Dogecoin (DOGE) Showing Strong Bullish Potential on Binance! Recent price action on Binance indicates that DOGE is holding key support levels and building momentum. Buyers are stepping in, and if the trend continues, we could see a strong breakout soon. Eyes on DOGE!
š VeChain (VET) has been showing potential, but will the market continue to favor it? Keep an eye on todayās price action to make informed decisions! š