Bitcoin Miners In Crisis: Will BTC Survive The $28,000 Tipping Point?
Portfolio Pulse from Murtuza Merchant
Matrixport reports that the current market pressure faced by Bitcoin at the $28,000 mark is due to miners needing to liquidate their newly acquired assets. The thinning profit margins and increased complexity of Bitcoin mining are prompting miners to offload their Bitcoin assets at the existing market value.
June 02, 2023 | 2:03 pm
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Bitcoin miners are facing pressure at the $28,000 mark, leading to asset liquidation due to thinning profit margins and increased mining complexity.
The increased complexity of Bitcoin mining and thinning profit margins are causing miners to liquidate their assets at the current market value. This liquidation pressure could lead to a short-term negative impact on Bitcoin's price.
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