The analysis and market research arm of Galaxy Digital, Galaxy Research, says that #Bitcoin needs to reclaim US$82,470 to confirm the end of the bear market. The analysis points out that the key lies in the 50-week simple moving average. Galaxy analyzed all of BTC’s bear markets since 2011. In previous cases where BTC broke above and held its 50-week moving average, in 11 out of 13 times the move was decisive and no new lows were set.
The report highlights that using shorter-term indicators, such as the 50-day moving average, often triggers false alarms; in past cycles, short-term daily recoveries failed dozens of times before the trend was confirmed.
According to Reuters, Tether’s $120 million Bitcoin mining project in Uruguay collapsed due to a dispute with the state-owned utility company UTE. ether allocated about US$120 million through its local subsidiary, Microfin, to build two mining centers in the department of Florida. Uruguay was envisioned as the initial laboratory for its mining expansion across South America.
The dispute with the National Administration of Electrical Utilities and Power Transmission, or UTE, centered on the interpretation of the electricity supply contract. Tether interpreted the agreed capacity as a minimum floor that could be increased over time, while UTE viewed it as an insurmountable maximum limit. The case reflects how the cryptocurrency mining model relies heavily on regulatory negotiations and local energy tariffs to sustain viability at large scale.
#BTC #ETFs #UruguayCrypto #USDT #MineríaDeBitcoin $BTC
The report highlights that using shorter-term indicators, such as the 50-day moving average, often triggers false alarms; in past cycles, short-term daily recoveries failed dozens of times before the trend was confirmed.
According to Reuters, Tether’s $120 million Bitcoin mining project in Uruguay collapsed due to a dispute with the state-owned utility company UTE. ether allocated about US$120 million through its local subsidiary, Microfin, to build two mining centers in the department of Florida. Uruguay was envisioned as the initial laboratory for its mining expansion across South America.
The dispute with the National Administration of Electrical Utilities and Power Transmission, or UTE, centered on the interpretation of the electricity supply contract. Tether interpreted the agreed capacity as a minimum floor that could be increased over time, while UTE viewed it as an insurmountable maximum limit. The case reflects how the cryptocurrency mining model relies heavily on regulatory negotiations and local energy tariffs to sustain viability at large scale.
#BTC #ETFs #UruguayCrypto #USDT #MineríaDeBitcoin $BTC
