- BTC Mining Difficulty Peaks at 92.67 Trillion
- Bitcoin Miners Liquidate 30,000 BTC in 72 Hours
- Current Market Scenario and Outlook
The increase in Bitcoin mining difficulty has brought the digital asset into the spotlight after reaching an all-time high. The 3.6% increase threatens the profitability of mining ventures by reducing profit margins.
BTC Mining Difficulty Peaks at 92.67 Trillion
Data from BTC.com shows that mining difficulty has reached an all-time high of 92.67 trillion, up from 89.47 trillion. Bitcoin's hash rate also rose to a peak of 700 EH/s before settling at 670 EH/s.
Bitcoin Miners Liquidate 30,000 BTC in 72 Hours
The current situation is putting significant financial pressure on mining firms. According to analyst Ali Martinez, miners liquidated over 30,000 BTC worth $1.71 billion in 72 hours as of September 11.
Current Market Scenario and Outlook
Bitcoin is currently trading at $57,990.25, rising by 2.41% in the last 24 hours and 1.4% over the last seven days. Lead analyst at Swyftx, Pav Hundal, suggests investor confidence in the crypto market is high, but macroeconomic factors could lead to volatility.
The increased Bitcoin mining difficulty has intensified competitive pressure among miners, reducing their profitability. However, the digital asset continues to show positive market trends.
Comments