Bitcoin Hashprice Drops Sharply as Mining Difficulty Reaches Record Levels — Is a Crisis on the Horizon?
Bitcoin Mining Profitability Decline: Bitcoin hashprice has dropped to an all-time low of $34.49 per PH/s, while mining difficulty reached a record high of 155 trillion, severely impacting miner earnings and operational viability.
Operational Challenges for Miners: The combination of rising mining difficulty and falling hashprice has led to increased operational costs, particularly affecting smaller miners, and raising concerns about potential exits from the market.
Market Conditions and Miner Stress: Current mining profitability is at its lowest since 2023, with miners needing higher BTC prices to break even, as block rewards have decreased and operational costs average $112,000.
Potential Network Vulnerability: If low hashprice and high difficulty persist, the Bitcoin network may face structural shifts with fewer active miners, raising questions about its resilience and the ability of miners to sustain operations under current conditions.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 58889.722 | 62003.861 | 65225.252 | 68339.391 | 71560.782 | 74674.921 | 77896.312 |
| Fibonacci | 62003.861 | 64424.033 | 65919.219 | 68339.391 | 70759.563 | 72254.749 | 74674.921 |
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