BTC miners having huge problems staying above water.
Miners capitulation for Bitcoin closer than we think.
A thread 🧵 of scary charts
RIOT holding support and working on thin margins if any at all. Measured move down to previous buttom support in play
BITF heavy af as well
IREN Iris Energy Limited has another 30% down until ir teaches the bottom line of the channel
MARA MarathonDigitalHolding no support in sight playing a measured move down
HUT HutMiningCorp. another -30% before next reasonable support
HIVEblockchainTechnologies air bellow if BTC remains under 18k for long
BTBT BitDigital another -50% if Bitcoin prices stay low and capitulation is still upon us
Even more BTC miners are facing similar issues.
Hashrate dropping like a stone.
Miners difficulty will be adjusted next week or so .. This should help profitability, but until then we are in the danger zone. Miners capitulation is in full force.
Current price of BTC holding strong and givin altcoins such as ETH ADA CHZ IMX ... even SOL good bouncing opportunities and making the feed green again might be just creating the exit liquidity before miners do capitulate and retail finally gets scared out of the market
This post is based on this twitter thread.Comments
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