Bitcoin Hovers Near $83K As Whales and Miners Cash Out – Will BTC Drop to $75K?

A dormant whale booked an $85M profit, and miners cashed out $27M, increasing selling pressure on Bitcoin.

U.S. spot Bitcoin ETFs have recorded five consecutive weeks of outflows, raising concerns over institutional support.

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Bitcoin Network Hashrate Rises Amid Price Decline

The graph below illustrates the remarkable volatility in Bitcoin's computational power, with hash rate fluctuating between 753 and 886 million TH/s throughout March. Despite this volatility, miners have maintained strong network participation, with the current hash rate reaching 811 EH/s

Mining Economics Analysis:
Our calculations reveal the significant financial pressures miners are facing:

1. Revenue per TH/s dropped from $0.0519 to $0.0467 (-10%) following the price decline.
2. Network-wide daily power costs exceed $33.7 billion
3. Despite these costs, miners maintain operations, suggesting confidence in future returns.
#bitcoin #bitcoinHashrate

🚨 White House snubs Bitcoin miners at crypto summit

HIVE Digital Tech Chairman Frank Holmes tells scott melker not inviting Bitcoin miners was "mistake," arguing miners are critical to energy efficiency and economic growth.

https://www.thestreet.com/...

Explain BITCOIN to Complete Beginners

TIMESTAMPS -
0:00 Intro
0:42 Digital Cash
3:38 Software
9:15 Nodes and Miners
13:08 Public Key Encryption
17:41 Custody
19:12 Conclusion

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According to a report by asset manager ARK Invest released on July 18, Bitcoin became oversold in June after the German government initiated a multibillion-dollar sell-off of 50,000 BTC. These bitcoins were seized in a 2020 police sting against Movie2k, a streaming platform for pirated content.

The sell-off caused Bitcoin prices to drop from highs above $70,000 in early June to below $55,000 during a brief dip in July.

"Based on short-term holder realized profits/losses and miner outflows, Bitcoin appears oversold," the report states, which covers data through June 30 and includes more recent figures. "Current levels of miner outflows suggest that miners are capitulating, which could signal a bullish reversal."

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Struggling bitcoin miners seek deals with AI companies

Bitcoin miners are rushing to sign deals with artificial intelligence developers in a bid to revive their flagging revenues by finding new customers for their vast data centres.

https://www.ft.com/content...

The Short film “Stranded” shows how #bitcoin miners are harnessing stranded electricity.