📰 Why are miners still mining? An abnormal sign around BTC $108.48K
This week, the Bitcoin market has shown unusual activity—prices have remained relatively stable, but miner activity is still active. While BTC and U.S. stocks have been lackluster recently, global hash rate has not declined as expected. This suggests miners are continuing to mine new coins. Behind this is wavering market sentiment toward the key level of $80,641.
Why is this news important?
Miners are a core pillar of the Bitcoin ecosystem. Their continued mining implies that the market’s acceptance of the current price of $80,551.69 is still fairly adequate. If miners stop mining, it usually signals that the price is nearing a historic low (such as the $3.8K range in 2022). With hash rate staying stable, it instead indicates that panic selling has not emerged below $108.48K. This conflicts with ongoing institutional net inflows and the retail greed index remaining in the 60–70% range, showing that both bulls and bears are currently fighting it out at the key level of $108.48K.
Impact on the market
In the short term, miner activity suggests stronger support below $108.48K, but not enough to push prices higher. If BTC falls below $79,000 in the coming week, miners may reduce hash rate due to losses, and the support around $108.48K would no longer hold. This means the current stage is a critical window for investors to watch fund flows. ETH at $2,582.42 also needs monitoring to see whether similar signs appear.
Trading idea
💡 I believe BTC forms a short-term ranging pattern around $108.48K. If it breaks below $79,000, the risk of reduced production by miners would increase significantly. Hash rate stability provides support, but it is not enough to serve as upside momentum. If signs of reduced production appear next week (e.g., hash rate falling by more than 5%), then this view would be invalidated.
This article has no sponsorship from any project, and the author does not hold the assets mentioned
$BTC $ETH #BTC #ETH
⚠️ Not investment advice; predictions are for reference only
#Routine Analysis
This week, the Bitcoin market has shown unusual activity—prices have remained relatively stable, but miner activity is still active. While BTC and U.S. stocks have been lackluster recently, global hash rate has not declined as expected. This suggests miners are continuing to mine new coins. Behind this is wavering market sentiment toward the key level of $80,641.
Why is this news important?
Miners are a core pillar of the Bitcoin ecosystem. Their continued mining implies that the market’s acceptance of the current price of $80,551.69 is still fairly adequate. If miners stop mining, it usually signals that the price is nearing a historic low (such as the $3.8K range in 2022). With hash rate staying stable, it instead indicates that panic selling has not emerged below $108.48K. This conflicts with ongoing institutional net inflows and the retail greed index remaining in the 60–70% range, showing that both bulls and bears are currently fighting it out at the key level of $108.48K.
Impact on the market
In the short term, miner activity suggests stronger support below $108.48K, but not enough to push prices higher. If BTC falls below $79,000 in the coming week, miners may reduce hash rate due to losses, and the support around $108.48K would no longer hold. This means the current stage is a critical window for investors to watch fund flows. ETH at $2,582.42 also needs monitoring to see whether similar signs appear.
Trading idea
💡 I believe BTC forms a short-term ranging pattern around $108.48K. If it breaks below $79,000, the risk of reduced production by miners would increase significantly. Hash rate stability provides support, but it is not enough to serve as upside momentum. If signs of reduced production appear next week (e.g., hash rate falling by more than 5%), then this view would be invalidated.
This article has no sponsorship from any project, and the author does not hold the assets mentioned
$BTC $ETH #BTC #ETH
⚠️ Not investment advice; predictions are for reference only
#Routine Analysis
