Bitcoin mininer returned strikes the lowest point since April
Bitcoin minors are not an excellent month. New cryptocizing data show that daily benefits fell to $ 34 million in June, the lowest since April. It is a clear fall, and it is not difficult to see why. The transaction fees have been reduced by half and the Bitcoin price fell by around 15%. Both count a lot when using expensive mining platforms.
The last time that things seemed so difficult, it was in July 2022. And with the climbing of operational costs, some minors may have to make difficult calls – sell reserves or even temporarily stop. It is a survival movement, but it could flood the market with an additional offer, which is not ideal for prices.
Whales do not seem to agree
Meanwhile, the big players – Bitcoin whales – are not on the same wavelength. Glassnode numbers show that smaller whales (holding 1-10 BTC) are sold, while medium-sized whales (10-100 BTC) accumulate quietly. The score of the accumulation trend has increased up to 0.57, suggesting renewed interest, but without the unit among the largest holders, the market feels stuck in limbo.
It is a strange place. The minors sweat, the whales are divided and yet … The action of Bitcoin prices has not completely collapsed. Instead, it bounces between $ 102,000 and $ 108,000, forming what traders call a “bull flag”. If this model is held, a break could happen.
Could history repeat itself?
The abbe case analyst thinks. He pointed out on X that the current configuration is strangely like mid-2020, just before Bitcoin launched. At the time, after a MacD crossover and a brief decline, the prices soaped. If the same play book is working now, we could see Bitcoin reaching $ 146,000 – or even pushing around $ 180,000 – in October.
But Abbe does not buy the media threshing of the “supercycle”. He insists that it is only part of the usual pace of four years of Bitcoin, with highs, corrections and all the usual chaos. However, if the MacD remains optimistic, a leap of 50 to 80% is not out of the question.
Of course, none of this is guaranteed. The difficulties of minors could lower prices before any escape occurs. The behavior of the whales could return overnight. But for the moment, the graphics refer to something large – if Bitcoin can simply exceed this $ 109,000 wall.
