Bitmain Reduces Prices on Mining Equipment, S21 Series Discounts Reach $7 per TH/s
- Price Adjustment: Bitmain has announced price reductions on several mining machines, with discounts on the S21 series reaching $7 per TH/s, aimed at addressing the current challenges of low profit margins in the mining industry, potentially attracting more miners to the market.
- Market Pressure: The hashprice for Bitcoin mining has dropped to $35 per TH/s, significantly below the recognized breakeven point of $40, forcing many miners to consider halting operations in response to economic uncertainties.
- Industry Collaboration: Mining firms are exploring the use of renewable energy to cut costs, especially after the halving event in April 2024, demonstrating the industry's adaptability in the face of intense competition and regulatory challenges.
- Market Outlook: Despite 2025 being anticipated as a remarkable year for Bitcoin, the price has plummeted from a peak of $126,000 in October to a low of $80,000 in November, reflecting the market's high volatility and uncertainty.
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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 4 technical signals, shows that 1 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 | 36425.103 | 48212.552 | 61160.853 | 72948.302 | 85896.603 | 97684.052 | 110632.353 |
| Fibonacci | 48212.552 | 57661.608 | 63499.245 | 72948.302 | 82397.358 | 88234.995 | 97684.052 |
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