Selling pressure on Bitcoin increases; is another price correction on the way

Bitcoin miners’ reserve was decreasing, indicating that miners were selling their holdings. Metrics looked bearish and open interest was also high.

As per the analysis, Miner Poolin: 3BPAodH6WkNQC8TUrnwFKhETiFacNUi68X sent 1750 BTC to an address, which later transferred BTC to Binance. In addition to that, miners’ reverse was also declining, which clearly indicated that BTC was witnessing sleeping pressure from the miners as well.

In addition to that, Bitcoin’s hashrate has also registered a slight downtick over the last few days. A decline in hashrate means that miners are moving out of the BTC ecosystem. At the time of writing, Bitcoin’s hashrate stood at 344.77 million TH/s.The selling pressure was yet again proven by BTC’s on-chain metrics. For instance, miners’ position index was red, indicating that miners were selling more holdings compared to their one-year average.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

CryptoAmb /  🏆 22. in CA

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Bitcoin May 17 daily chart alert - Price downtrend in place
Lire la suite »

Bitcoin [BTC]: Analyzing the factors behind king coin’s declining volatilityThe 60-day annualized volatility for Bitcoin slipped below 40%, making it the eighth such occurrence in the last five years.
Lire la suite »

Ethereum, Bitcoin users rush to Solana [SOL] as they seek…As users flee Bitcoin and Ethereum networks due to high transaction fees, they find a home at Solana.
Lire la suite »

Bitcoin struggles to go past $28K – Is a reversal likely?An analysis revealed a possible reason behind BTC’s poor performance over the last few weeks. However, there were chances for a possible turnaround.
Lire la suite »

Bitcoin May 18 daily chart alert - Prices pausing late this week
Lire la suite »

Stocks about to go higher (bitcoin too)?Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Lire la suite »