Bitcoin Crisis: Miner Sell-Off & New ASICs Amid U.S. Rate Cuts
The Bitcoin crisis is intensifying as a BTC miner sell-off gains momentum. This coincides with new ASIC hardware entering the market and expected U.S. interest rate cuts. These factors have created a volatile situation that has investors and analysts worried. Also Read: Bitcoin to Hit $100K? Investors Say Election Won’t Stop the Surge! Navigating the Bitcoin Crisis: Miner Sell-Off, ASIC Hardware, and U.S. Interest Rate Cuts Miner Sell-Off Amplifies Market Pressure #Bitcoin miners have sold over 30,000 $BTC in the last 72 hours, worth around $1.71 billion! pic.twitter.com/OuaiIo7QZ9 — Ali (@ali_charts) September 11, 2024 The BTC miner sell-off has seen over 30,000 BTC sold in just three days, worth about $1.7 billion. This massive liquidation is due to higher mining difficulty and lower transaction fee income. ASIC Hardware Evolution Reshapes Mining Landscape Despite current challenges, miners are still investing in new ASIC hardware. Illia Otychenko from CEX.IO explains, “Th...