Bitcoin mining group responsible for 2.3% shuts down operations after hashrate drops 65% — how will $BTC react?
According to CoinDesk, the market is buzzing after reports that a Bitcoin mining group responsible for 2.3% shut down operations following a 65% drop in hashrate. This is considered a significant move that could directly affect sentiment around holding $BTC in the short term.
Reaction of $BTC
Short-term uncertainty: The latest news has made investors more cautious. Speculative inflows into $BTC could stall over the next 24 hours, leading to sideways movement or a slight correction due to profit-taking pressure.
No major panic: This is not a sudden negative shock likely to rattle the entire market. For those closely following the BTC ecosystem, this is a step along its development path, so it is unlikely to trigger a major wave of selling.
Long-term trend depends on macro factors: In the long term, the price of $BTC will still depend on key factors such as on-chain activity, ETF flows, TVL, and overall crypto market sentiment. If the ecosystem continues to expand, the outlook remains positive.
Do you think $BTC will take off after this news? 👇
#Binancenews #xuhuong #CryptoNews
According to CoinDesk, the market is buzzing after reports that a Bitcoin mining group responsible for 2.3% shut down operations following a 65% drop in hashrate. This is considered a significant move that could directly affect sentiment around holding $BTC in the short term.
Reaction of $BTC
Short-term uncertainty: The latest news has made investors more cautious. Speculative inflows into $BTC could stall over the next 24 hours, leading to sideways movement or a slight correction due to profit-taking pressure.
No major panic: This is not a sudden negative shock likely to rattle the entire market. For those closely following the BTC ecosystem, this is a step along its development path, so it is unlikely to trigger a major wave of selling.
Long-term trend depends on macro factors: In the long term, the price of $BTC will still depend on key factors such as on-chain activity, ETF flows, TVL, and overall crypto market sentiment. If the ecosystem continues to expand, the outlook remains positive.
Do you think $BTC will take off after this news? 👇
#Binancenews #xuhuong #CryptoNews