Bitmain Cuts Prices on S19/S21 Mining Hardware Amid Industry Stress
- Pricing Strategy: Bitmain's price cuts on multiple generations of mining hardware, including the S19 and S21 models, reflect mounting pressure on miner profitability, which is expected to impact overall market stability.
- Innovative Sales Models: In addition to standard discounts, Bitmain has introduced bundled offers and auction-style sales that allow buyers to set their own prices, highlighting the severity of demand contraction in the mining sector.
- Hash Price Decline: The current hash price has dropped to approximately $35 per TH/s per day, significantly below the breakeven threshold of $40, forcing miners to reassess fleet utilization and delay expansion plans.
- Deteriorating Market Conditions: Following the 2024 halving event, Bitcoin prices failed to recover as expected, plummeting from $126,000 to $80,000, compelling miners to focus on cost control and shift towards renewable energy to manage high energy costs.
Get Real-Time Alerts for Any Crypto Movement
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 4 technical signals, shows that 1 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 | 36425.103 | 48212.552 | 61160.853 | 72948.302 | 85896.603 | 97684.052 | 110632.353 |
| Fibonacci | 48212.552 | 57661.608 | 63499.245 | 72948.302 | 82397.358 | 88234.995 | 97684.052 |
About BTC
About the author
