Bitcoin [BTC] Miners have been facing harsh realities lately. The worst part is that it doesn’t seem to get any easier because these difficulties seem too strong for you to deal with.
according to CryptoQuantBTC Miner She faced the obstacle of not selling her holdings for the crumbs. However, the deteriorating state of the bitcoin hash price has left most miners with no choice but to succumb to selling pressure.
The hash price, the market value of each hash capacity, is the same as that used as income for these miners. Unfortunately, CryptoQuant has noted that revenue is near an all-time low.
Oh! Save the kings
Based on the report, more than 5,000 BTC moved from mining pools to exchanges this week. All of this happened before BTC fell below $19,000, and despite the recovery in trading above $20,000, CryptoQuant indicated that selling pressure could rise in the coming days. With this situation, it might be possible for miners to follow a similar procedure that led to this a discount Most of their rewards are in June.
While evaluating the opinion of the analytical platform, the measurements of the two miners confirmed that they are correct. According to data from the same platform, the flow of miners has increased by 2.22% in the past 24 hours.
However, the exit from the mining complex did not begin on September 8. According to CryptoQuant, an average influx of miners has begun increasing On the 6th of September.
The start date was 4.41. At the time of publication, it has risen to 10.37.
Also, a look at Glassnode show up The miners haven’t been making big profits lately. As such, making such a decision to continue selling was almost inevitable. The miners’ earnings, which were 1,060 BTC on September 4, have fallen to 80.85 at the time of writing.
However, the CryptoQuant report did not identify miners as the only ones guilty of the sale. BTC whales are also pumping their holdings into exchanges in an effort to sell. Just like the miners, there was the potential for the trend to continue.
Interestingly, bitcoin miners don’t just have treatment headaches. This is because miners in the United States have received a strict attitude warning. According to the White House report, miners may have to find a sustainable solution to their energy consumption or risk facing a ban.
The decision was probably expected, especially since the cryptocurrency mining business was so a plus in the country. But finding a way to ensure that the proposed green energy for mining resolves the conflict may be the most important issue for the miners.