Tension Rises in the Bitcoin Market

The latest developments in the Bitcoin market are causing concern among investors. Julio Moreno, research director of CryptoQuant, suggests that unrealized profits from the Bitcoin rally could create selling pressure, negatively affecting prices. Slowing inflows to spot Bitcoin exchange-traded funds (ETFs) and the possibility of investors realizing their current profits could increase downward pressure on prices. Investor Profits and ETF Impact The Net Unrealized Profit/Loss (NUPL) indicator indicates that investors may be able to exit the market, strengthening selling pressure. On March 17, the indicator signaled the possibility of investors taking profits. At the same time, on March 14, there was a significant inflow of Bitcoin ETFs, which could signal a potential price decline. However, James Butterfill, research director at CoinShares, suggests that the tendency of institutional investors to rebalance their portfolios could mitigate volatility. Halving Effect and Mining Costs As the deflationary mechanism of Bitcoin, the upcoming halving event […]

Tension Rises in the Bitcoin Market

The latest developments in the Bitcoin market are causing concern among investors. Julio Moreno, research director of CryptoQuant, suggests that unrealized profits from the Bitcoin rally could create selling pressure, negatively affecting prices. Slowing inflows to spot Bitcoin exchange-traded funds (ETFs) and the possibility of investors realizing their current profits could increase downward pressure on prices.

Investor Profits and ETF Impact

The Net Unrealized Profit/Loss (NUPL) indicator indicates that investors may be able to exit the market, strengthening selling pressure. On March 17, the indicator signaled the possibility of investors taking profits. At the same time, on March 14, there was a significant inflow of Bitcoin ETFs, which could signal a potential price decline. However, James Butterfill, research director at CoinShares, suggests that the tendency of institutional investors to rebalance their portfolios could mitigate volatility.

Halving Effect and Mining Costs

As the deflationary mechanism of Bitcoin, the upcoming halving event continues to impact the market prices, as miners’ sales and capital inflows into Bitcoin ETFs remain influential. Halving will reduce mining rewards by half, slowing down the production of new Bitcoin. This year, the reward per block will decrease from 6.25 Bitcoin to 3.125 Bitcoin, but mining costs may remain the same or increase.

CoinShares predicts that the average production cost for crypto miners after halving will be $37,856. Butterfill suggests that high mining costs may affect some miners more than others, but not everyone will be equally affected.

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