Traders are looking for BTC and ETH to make a decisive move ahead of Friday’s $6 billion in quarterly futures and options expiries, but what does back-tested data show?
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Category: China
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Chinese Mining Exodus Leads to ASIC and GPU Second-Market Surplus and Lower Prices
While bitcoin miners in China have been scrambling, second-hand markets offering cryptocurrency mining rigs from ASICs to GPUs have been exploding with an excess surplus. Additionally, the ASIC manufacturer Bitmain suspended machine sales on Wednesday, ceasing international spot deliveries. Official Crypto Mining Rig Dealers Are Either Sold-out or Suspending Deliveries, Second-Markets Explode With Mining Products […]Powered by WPeMatico
Data shows derivatives had little to do with Bitcoin’s drop to $29K
Bitcoin price shocked investors as it plunged 20% to a 6-month low, but data shows derivatives played a marginal role in the correction.
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Bitcoin’s Hashrate Drops Below 100 Exahash, Observers Describe China’s ‘Great ASIC Exodus’
Most of the crypto community has been focused on the developments in China and more specifically, the crackdowns against bitcoin miners in Inner Mongolia, Xinjiang, Qinghai, Yunnan, and Sichuan. On Wednesday morning (EST), Bitcoin’s overall hashrate has continued to drop and is now below the 100 exahash per second (EH/s) region. During the last 24 […]Powered by WPeMatico
Bitmain reportedly suspends Bitcoin miner orders amid booming secondhand supply
By postponing the sales, Bitmain aims to help miners exiting the industry get better prices for mining equipment.
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Chinese crypto mining firm Canaan sets up shop in Kazakhstan amid crackdown
Canaan has started mining Bitcoin with its latest Avalon Miner units in Kazakhstan after setting up a service center in the country earlier this month.
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Chinese Bitcoin miners ‘not even in the mood to drink anymore’
Many Bitcoin miners in China are down with the blues as Beijing forces several operations to go offline.
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Bad call? Bitfinex bears closed a block of Bitcoin shorts before the drop below $32K
Bitcoin short positions at Bitfinex soared as BTC price dropped below $40,000, so why did the majority of them close before the largest part of the correction?
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As China Cracks Down on Bitcoin Miners, Stealth Miners and Mystery Hashrate Return
While on the surface it seems officials from five provinces in China have been cracking down on bitcoin miners, no one is quite sure how much hashrate is moving, which pools are affected, or where these miners will end up. A number of mining pools have seen hashpower percentages decline and Bitcoin’s overall hashrate has […]Powered by WPeMatico
Bitcoin price clings to $32K as on-chain metrics hint at further downside
China’s continued crackdown on Bitcoin mining and OTC transactions, along with prolonged technical weakness, triggered BTC’s drop to a 6-month low.
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