Bitmain Slashes ASIC Mining Hardware Prices Amid Market Turmoil
- Significant Price Cuts: Bitmain has implemented substantial price reductions on multiple generations of mining hardware, with discounts of $7 per TH/s on S19 and S21 series, reflecting severe compression in mining profit margins and forcing operators to consider shutting down operations due to economic pressures.
- Deteriorating Market Conditions: The hashprice for Bitcoin mining has plummeted to a multi-year low of nearly $35 per TH/s/day, significantly below the breakeven point of $40, presenting unprecedented profitability challenges for miners in an increasingly competitive landscape.
- Rising Energy Costs: Following the April 2024 halving event, miners are turning to renewable energy to cut variable costs; however, Bitcoin's price has crashed from a high of $126,000 in October to a low of $80,000 in November, exacerbating survival pressures within the industry.
- Uncertain Future Outlook: Despite forecasts for 2025 to be a stellar year for Bitcoin, the reality has been a continuous price decline, with current Bitcoin prices over 7% lower than at the start of 2025, leaving mining companies facing existential threats and an uncertain industry outlook.
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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 | 36063.262 | 48031.631 | 60333.282 | 72301.651 | 84603.302 | 96571.671 | 108873.322 |
| Fibonacci | 48031.631 | 57302.779 | 63030.503 | 72301.651 | 81572.799 | 87300.523 | 96571.671 |
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