Bitcoin
Why Bitcoin is down 1.9% in the last hour
Analysis
Bitcoin fell 1.9% over the past hour as miner-related supply concerns resurfaced, with Cointelegraph reporting a spike in Bitcoin miner outflows in January even if public miner sales remained limited. Adding to the cautious tone, U.Today noted Bitcoin mining difficulty hit its lowest level since the China ban, a development that can coincide with stress in the mining sector and weigh on sentiment.
Contributing Factors (3)
Bitcoin miner outflows spike in January, but public sales remain limited
Onchain data shows nearly 49,000 BTC moved from miner wallets in two days, but public disclosures suggest the transfers do not reflect broad capitulation.
Bitcoin Mining Difficulty Hits Lowest Level Since China Ban
Bitcoin price in spotlight as mining difficulty has hit its lowest level in months.
Short-Term Bitcoin Holders in Pain as Bear Market Deepens
Losses are mounting up for short-term holders of Bitcoin as the asset dumps below $70,000 again.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.