Michael Saylor believes that a China crackdown on BTC miners would scale back Bitcoin’s carbon footprintSuch a move may additionally make mining successful for other Bitcoin minersIt would also do away with the ‘nagging’ China FUD that arrives as soon as or twice a yearBitcoin may quickly drop to $20k
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Bitcoin at $53k is the most significant on-chain support since $11kAt the $53k price zone, Bitcoin maintains a $1 Trillion market capBitcoin miners have returned to accumulating BTCBitcoin held by OTC desks has been dropping and confirms demand by large buyersThe team at Glassnode has released their weekly On-Chain report.
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Abstract:The selection of Bitcoin transactions by means of BTC miners to all crypto exchanges has hit a yearly primeSelling might be linked to profit-taking sooner than the Chinese new year that starts subsequent monthBitcoin analyst, MagicPoopCannon, forecasts a dip to $22k prior to to any extent further enlargement by BTCThe
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Fast take:Bitcoin Miners’ Place Index has hit an EIGHT year topAccording to the CEO of CryptoQuant, miners were promoting their Bitcoin when you consider that BTC hit $42kThe promoting is ongoing and the main reason why BTC is bearish at least in the brief termOver 116k BTC choices expire this
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