Yello, ParadiseClub Members! ð Letâs unravel the latest buzz around Bitcoin miners and what it means for our market journey:
ðBitcoin miners are currently holding steady at breakeven, and thereâs a slight upward trend in their revenues. This positive sign is showcased in the chart below, indicating that miners are being fairly compensated. If Bitcoinâs price remains above $59K, weâre likely to avoid any immediate selling pressure from these Bitcoin miners.
ðFrom the ParadiseTeamâs Profesional Traders: The Long-Term Holders‘ (LTH) Sell-Side Risk ratio is currently lower compared to previous all-time highs (ATH). This signals that LTHs are taking profits more cautiously than in past cycles. They might be biding their time, waiting for even higher prices before ramping up their selling pressure. So, prepare for the price recovery soon.
Stay focused, patient, and disciplined Paradisersð¥
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