Tether Orders Custom Bitcoin Mining Modules for South America
- Custom Mining Module Order: Tether has placed an order with Canaan for custom immersion-cooled Bitcoin mining modules to establish its own mining infrastructure in South America, indicating a commitment to long-term investment despite the lack of disclosed module count and contract value.
- Advantages of Immersion Cooling: By opting for immersion cooling technology instead of traditional fan-based cooling, Tether can effectively reduce thermal throttling and extend hardware lifespan, which is crucial given Bitcoin's network difficulty exceeding 135 trillion, ensuring operational efficiency and cost control.
- Market Environment Analysis: With Bitcoin trading around $76,959 and market sentiment in the “Fear” zone (index at 26), Tether's expansion of mining infrastructure during a cautious market backdrop reflects its strategic intent as an infrastructure builder rather than a speculative trader.
- Integration of Software and Hardware: The combination of Tether's MDK development framework with custom hardware modules allows for management of mining rigs without reliance on third-party firmware, further enhancing its vertical integration in Bitcoin's security model and reducing dependence on external infrastructure.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 4 indicators are flashing buy, while 0 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 | 70205.009 | 72513.289 | 74869.099 | 77177.379 | 79533.189 | 81841.469 | 84197.279 |
| Fibonacci | 72513.289 | 74294.972 | 75395.697 | 77177.379 | 78959.062 | 80059.787 | 81841.469 |
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