According to CryptoQuant expert analysis, Bitcoin miners are in a stable position, impacting the market, and showing no signs of major sell-offs.
Miners Out of the Danger Zone
Analysis by Axel Adler Jr. indicates that Bitcoin miners are no longer under financial pressure, leading to reduced selling pressure. Currently, Bitcoin's price is 7.4% above past lows in mining difficulty, indicating no forced selling by miners.
No Big Sell-Off
While the current market position appears positive, it does not reach the strong growth levels seen in previous bull markets, which experienced increases of 50-80%. The market is currently more stable and cautious, without significant excitement.
Why the $115,000 Level Matters?
The expert further points out that the $115,000 level represents a 'danger zone.' Falling below this level could trigger panic selling, as many bought Bitcoin around this mark. This level also serves as a key technical support line, but could become a bull trap for traders looking for quick gains.
Overall, the state of Bitcoin miners indicates stability; however, it is critical to monitor changes in mining difficulty and other factors that could impact the market.
