Miners sold a record 48,900 $BTC in the first half, and hash rate is still near an all-time high.
Listed miners: 48,900 BTC sold, a record for a first half.
Hash rate: about 1,038 EH/s, near its historical high (Odaily).
VanEck's Matthew Sigel says miners need a $100,000 average price to break even.
BTC trades around $77,000.
My take: squeezed miners are forced sellers, so they add steady supply while price sits well below that breakeven. Watch whether the selling slows or hash rate starts to fall.
Do miners cap the next $BTC rally, or does this selling get absorbed?
Not financial advice.
#Bitcoin #BTCMining #CryptoNews
Listed miners: 48,900 BTC sold, a record for a first half.
Hash rate: about 1,038 EH/s, near its historical high (Odaily).
VanEck's Matthew Sigel says miners need a $100,000 average price to break even.
BTC trades around $77,000.
My take: squeezed miners are forced sellers, so they add steady supply while price sits well below that breakeven. Watch whether the selling slows or hash rate starts to fall.
Do miners cap the next $BTC rally, or does this selling get absorbed?
Not financial advice.
#Bitcoin #BTCMining #CryptoNews