Bitcoin Mining Rumors Spark Temporary Hashrate Fluctuations
- Hashrate Fluctuation Analysis: Although Bitcoin's network hashrate dropped by approximately 8% in a short period, most of the lost capacity returned within days, indicating that the disruption was temporary rather than a sustained regional shutdown.
- North American Pool Impact: North American pools, particularly Foundry USA and Luxor, experienced declines of nearly 200 EH/s due to power curtailments during a cold snap, highlighting the significant influence of external factors on hashrate.
- Stability of Chinese Pools: In contrast to North American pools, Antpool and F2Pool showed only marginal declines, while ViaBTC and Binance Pool remained within normal variance, suggesting that the impact from China was limited.
- Market Reaction: Despite potential regulatory pressures increasing, available data indicates that China-related Bitcoin mining disruptions were limited and temporary, making claims of a 100 EH/s shutdown appear exaggerated.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 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 stock.
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 | 35985.076 | 47992.538 | 60255.096 | 72262.558 | 84525.116 | 96532.578 | 108795.136 |
| Fibonacci | 47992.538 | 57263.686 | 62991.41 | 72262.558 | 81533.706 | 87261.43 | 96532.578 |
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