"US Tariffs on Mining Equipment Surge as CleanSpark and IREN Face Significant Liabilities"
Impact of US-China Trade War: The ongoing trade war is significantly affecting the Bitcoin mining industry, with high tariffs on Chinese and other Asian mining equipment leading to potential liabilities for American companies.
Tariff Rates and Liabilities: Current tariffs stand at 57.6% for China-origin mining machines and 21.6% for those from Indonesia, Malaysia, and Thailand, with companies like CleanSpark facing liabilities up to $185 million due to customs disputes.
Mining Revenue Challenges: Bitcoin mining revenues are under pressure, with hash prices low and transaction fees declining, prompting firms to adapt their operations and supply chains in response to rising costs and regulatory risks.
Manufacturers' Adaptation Strategies: In response to tariffs, Chinese manufacturers are establishing facilities in the US, while companies like Canaan are shifting headquarters and investing in the US to avoid trade barriers.
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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 | 36103.034 | 48051.517 | 60373.054 | 72321.537 | 84643.074 | 96591.557 | 108913.094 |
| Fibonacci | 48051.517 | 57322.665 | 63050.389 | 72321.537 | 81592.685 | 87320.409 | 96591.557 |
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