Bitcoin Miners Switching To Other Cryptocurrencies Amid Rising Cost of Operations: CryptoQuant CEO

Quick Summary:

Bitcoin (BTC) miners are reportedly hedging against the recent downturn in prices by mining other cryptocurrencies, according to the CEO of CryptoQuant.

Given the current ETF situation, this might be an ETH-only season.

However, Ju agrees that the trend signifies a capitulation in miners, which is generally a characteristic of a pre-Bitcoin bull run.

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Article Details

Author / Journalist: Sofiya

Category: Crypto

Markets: India

Topics: Cryptocurrencies Rising Bitcoin Miners Latest News News Cost of Operations CryptoQuant CEO Switching Bitcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-30 @ 21:25:28 (2 days ago)

News Timezone: GMT +8:00

News Source URL: bitcoinworld.co.in

Language: English

Article Length: 281 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 15 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © BitcoinWorld

News ID: 21430997

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About BitcoinWorld

Main Topics: Crypto

Official Website: bitcoinworld.co.in

Update Frequency: 11 posts per day

Year Established: 2020

Headquarters: India

News Last Updated: 22 hours ago

Coverage Areas: India

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Publisher ID: #121

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