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. Go to Source Powered by WPeMatico
China
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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 … Read more
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. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
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. Go to Source Powered by WPeMatico
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? Go to Source Powered by WPeMatico
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 … Read more
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. Go to Source Powered by WPeMatico
Denied electricity, world’s 5th-largest mining pool leaves China for Kazakhstan
Crypto mining pool BTC.com is leaving China after local authorities withdrew its power supply. Go to Source Powered by WPeMatico
China’s crackdown means Bitcoin is working, says crypto miner
A former crypto exchange engineer believes that China’s ban on Bitcoin mining is “fantastic news.” Go to Source Powered by WPeMatico