Reserve Dollar

Core

Bitcoin

Reserve

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>US-listed Bitcoin miners’ stocks have seen a significant increase, despite declining revenues and reserves.</li> 
 <li>Bitcoin has fallen below its support line, indicating a negative trend.</li> 
</ul> 
<p> The market cap of Bitcoin miners listed in the US recently reached an all-time high, despite a decline in their revenue and reserves.</p> 
<h2 id="bitcoin-mining-stocks-surge">Bitcoin Mining Stocks Surge</h2> 
<p>Analysts from JPMorgan reported a record market cap of $22.8 billion for US-listed Bitcoin miners as of June 15th. Stocks like Core Scientific, TeraWulf, and IREN led the surge, with gains of 117%, 80%, and 70%, respectively.</p> 
<p>However, the Bitcoin miners’ balance has been steadily decreasing, with the reserve currently standing at approximately 1.8 million BTC, a three-year low. This suggests an ongoing sell-off from miner addresses.</p> 
<h2 id="decline-in-bitcoin-miner-revenue-and-reserve">Decline in Bitcoin Miner Revenue and Reserve</h2> 
<p>A downward trend in BTC miner revenue has also been observed. The current revenue stands at approximately 512 BTC, a significant drop from over 1,000 BTC earlier in the year. This decline is partly due to the recent halving event, but also indicates a general decrease in revenue.</p> 
<p>Bitcoin’s price dropped 2% on June 18th, falling below its support level of around $66,000. This support level has now turned into resistance, with Bitcoin currently trading at approximately $65,121 and unable to break through the new resistance level.</p> 
<p>The stochastic indicator corroborates this negative trend, and suggests the possibility of another significant price shift soon.</p>

Bitcoin Mining Stocks Surge as BTC Holdings Plummet

Зміст

CoinEagle.com

Інші статті, опубліковані 20 черв. 2024 р.

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