Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
BRN Analyst: Miners seem to be accumulating Bitcoin

BRN Analyst: Miners seem to be accumulating Bitcoin

Bitget2024/07/29 12:17

BRN's chief analyst, Valentin Fournier, stated that in addition to accumulating mining rewards, mining companies seem to be directly purchasing Bitcoin from the market to increase their reserves. He added: "They have triggered the HashRibbon signal, which is a long-term bullish indicator that signifies the end of miners' capitulation and an increase in processing power used for Bitcoin mining." One of the miners participating in large-scale Bitcoin purchases is MARA, a company recently renamed from Marathon Digital, which announced on Thursday that it has purchased an additional $100 million worth of Bitcoin.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!