Bitcoin price momentum declines - miner profit reduction and spot outflows continue to affect
Bitcoin price loses momentum due to declining miner profits and continued outflow of spot BTC
1. Increased uncertainty in the macroeconomic environment:
- Factors such as concerns about a US recession and a slowing job market affect investor sentiment.
- Funds flow to more conservative assets, such as US Treasuries.
2. Continued outflow of funds from spot Bitcoin ETFs:
- Investors remain cautious about Bitcoin price trends.
- This exacerbates market pessimism.
3. Declining profitability of miners:
- Miners' profit margins shrink and they may be forced to liquidate their BTC.
- This further exacerbates market concerns about the downward trend of Bitcoin prices.
In general, under the influence of multiple factors such as macroeconomic uncertainty, capital outflows, and declining profitability of miners, Bitcoin prices have lost their previous momentum and face the risk of further decline. The market needs to pay attention to data such as employment and monetary policy to judge future price trends.
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