Bitcoin Achieves 56.7% Sustainable Energy Mix Driven by Mining Council Initiatives
- Sustainable Energy Transition: The Bitcoin Mining Council reports that Bitcoin's sustainable energy mix has reached 56.7%, primarily driven by miners like Marathon Digital Holdings adopting renewable energy globally, which enhances market perception of Bitcoin's environmental sustainability.
- Increased Investor Confidence: As major mining companies lead the energy transition, institutional investor interest in sustainable Bitcoin is rising, which is expected to drive asset growth and mitigate regulatory pressures, further solidifying Bitcoin's position as an eco-friendly investment option.
- Enhanced Industry Transparency: The Bitcoin Mining Council emphasizes the industry's reliance on cleaner energy by collecting data from over 50% of the global Bitcoin network, promoting transparency and altering power dynamics while advancing sustainability goals.
- Trend Towards Ecological Responsibility: Miners relocating to renewable energy hubs like Texas and Canada post-2021 have decreased coal reliance, indicating a continued commitment to ecological responsibility, with experts suggesting this will positively influence Bitcoin's market perception.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36100.923 | 48050.461 | 60370.943 | 72320.481 | 84640.963 | 96590.501 | 108910.983 |
| Fibonacci | 48050.461 | 57321.609 | 63049.334 | 72320.481 | 81591.629 | 87319.354 | 96590.501 |
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