CandleFocus

Bitcoin Miners Face Revenue Slump as BTC Stumbles Away from $100,000 Mark

Bitcoin's price has dropped nearly 10% since reaching a high of $102,735, leading to a significant decrease in daily revenue for miners. Miner revenue has fallen steadily since January 2, and if the price of BTC continues to decline, it could slip below $90,000, causing further losses for miners. As more miners sell their coins to offset operational costs, the amount of BTC held in miner wallets has decreased. BTC is currently trading at $93,419, and if selling activity continues, it could break below the support level at $91,437 and potentially reach $85,224. However, if market sentiment improves and demand increases, the price of BTC could rise and boost miner revenue.

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