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Bitcoin miners have borne the brunt of the bear trend since it began. They watched cash flow plummet on their machines, forcing them to look to other ways to finance their operations. The natural response to this was for public miners to dip into their bitcoin reserves and begin selling
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Celsius (CEL) has been rallying in recent times. The native token of the now bankrupt Celsius Network had taken a nosedive when the company had first filed for bankruptcy, but it seems the time is changing with the recent recovery. As Celsius continues with its proceedings, the price of CEL
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Bitcoin miner revenues have been plummeting ever since the price of BTC peaked back in November. This has put miners in a tight spot, causing a good number of them to sell their BTC holdings in order to keep financing their operations. The same was the case for last week,
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Summary: Bitcoin miners are continually selling their BTC to cover operational expenses. Bitcoin mining company, Core Scientific, has announced that it sold 7,202 BTC in June for $167 million. The Core Scientific team further explained the revenue was used for payments for ASIC servers, capital investments in additional data center capacity, and scheduled
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Since hitting an all-time high of $69,000 in November 2021, the price of Bitcoin has been declining. The current decline resulted in a low of $17,622 in June. A long lower wick was produced by the subsequent bounce. The bounce confirmed the $19,200 horizontal area’s worth of support. The region had
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On Saturday, Ethereum transaction fees tapped a low not seen since November 2020 as the average network fee dropped to 0.0016 ether or $1.67 per transfer. Average fees on Saturday have been as low as 32 gwei or $0.69 per transfer as Ethereum gas fees have been steadily dropping since
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Avalanche had performed well over the past week, however, the coin depreciated significantly over the last 24 hours. It shed close to 12% over the past day. AVAX experienced tough resistance at the $21 mark, and it was unable to break over it causing price of the asset to slump
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CoinFLEX initially planned to resume withdrawals today. Original Source
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Furthermore, speculative trades are likely to involve the simultaneous use of several coins, which increases spillover effects, the bank said. Whatever liquidity might exist in these markets could quickly evaporate, which would erode confidence in prices and increase the likelihood of contagion, it added. Original Source
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Summary: Bitcoin miners needing to sell could weigh down on the price of BTC for some time. According to analysts from JP Morgan, miners offloading Bitcoin to cover costs could continue into the third quarter of 2022 if the value of BTC does not improve. However, selling pressure could reduce, given Bitcoin production
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