James Check, principal analyst at Glassnode, said that during the hash band reversal period, the block generation time is about 14 seconds slower than normal, indicating that the online hash rate is low, the block generation speed is slightly slower, and about 5% of mining hash rates are currently in trouble, which means that bitcoin miners are "likely" to sell some assets, but this does not appear to be a "complete sell-off".
James Check added that miners may be struggling, they may not have fully entered bear market levels, they may just be struggling, they mine 10 bitcoins and then sell 10 bitcoins, miners must adapt and adjust fees to become their main source of income, forcing the industry to further innovate and apply effective capital management.
Analysis: Bitcoin miners are not conducting a "complete sell-off" and may currently be in a break-even period
2024-06-22 05:57:54
Glassnode chief analyst james check representation positive hash banddesk3cryptocurrencydesktopCrypto News
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