Bittime -Bitcoin miners are currently facing significant selling pressure as their revenues decline. After the halving occurred, Bitcoin felt the impact directly, with a significant decrease in income. The latest negative difficulty adjustment marks the worst conditions since the COVID-19 crisis in March 2020.
Inflows Increase for Bitcoin ETFs
Even though miners are under pressure, Bitcoin's situation on Wall Street looks better. The US Spot Bitcoin ETF recorded sizable net inflows, reaching $11.78 billion in total. Bitwise was in the spotlight with net inflows, while several other ETFs did not record significant net flows.
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Inflow Statistics in Asia
In Asia, the Hong Kong (HK) Bitcoin Spot ETF has also seen impressive inflows since its launch on April 30. However, there were daily net outflow records for some ETFs, indicating variations in market behavior.
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Bitcoin Price Development
At the time of writing this article, Bitcoin price is around $62,945.16 with a growth of 3.40% in the last 24 hours. The MVRV ratio for Bitcoin is increasing, indicating that most Bitcoin holders have made a profit. This could trigger further selling and profit taking.
Also read: Mining Bitcoin vs Validating Bitcoin Transactions
With this situation, the Bitcoin market continues to experience fluctuations which can influence the investment and trading decisions of market players. In the face of miner pressure and inflow dynamics in the ETF market, careful market monitoring is necessary for crypto investors.
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How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also read:
Bitcoin Futures and Bitcoin Options: Bitcoin Financial Contracts, What's the Difference?
Differences between Bitcoin (BTC) vs Bitcoin Cash (BCH)
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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