Hash rate plummeted by 27%, dropping from 954 to 693 EH/s in three days, mainly due to the bombing of Iran's nuclear facilities, which reportedly used nuclear energy for mining shutdowns + skyrocketing electricity prices in Texas led to miners unplugging. Miners now face a cost of $98,600 to mine a coin, while the coin price is only $101,000, and daily revenue has dropped sharply from $50 million to $34 million. They can’t hold on — must sell coins to pay for electricity! Short-term selling pressure is significant, especially in the first three days.
Bitcoin is testing the 100,000 mark, but don't panic about bottom fishing.
Miner selling pressure + repeated ceasefire in the Middle East. Trump just called for a ceasefire, but Iran and Israel are still in conflict. BTC may first drop to the psychological level of 100,000, or even briefly break it. However, miner capitulation has historically been a bottom signal; after capitulating last October, BTC surged 45%. Additionally, the probability of the Federal Reserve lowering interest rates is rising to 53%, and in the coming days it will likely rebound around 1,050,000.
Altcoins are being drained, and Bitcoin's dominance is climbing to a four-year high of 65%. Funds are only recognizing Bitcoin. The altcoin season index has dropped to 12 out of 100, indicating that retail investors have fled. ETH, SOL, and others have declined 5%-8% this week with weak rebounds, so don't rush to catch falling knives.
First crouch, then jump, hold on to Bitcoin firmly.
The ocean predicts the major trend for the week as follows
1-3 days Miner selling + geopolitical fluctuations BTC is on the sidelines, don’t touch altcoins.
4-7 days Difficulty adjustment + interest rate cut expectations BTC gradually bottoming out
In a nutshell: When miners are forced to sell, it’s the day smart money enters the market. Survive the first half of the week, and look for a rebound in the second half.
Recovering without losing direction, pay attention to #BTC走势分析 $BTC #挖矿算力