Bitcoin (BTC) daily mining revenue and gross profit fell for the fourth consecutive month in October, JPMorgan Chase (JPM) said in a research note on Friday. JPMorgan estimates that gross profit from Bitcoin daily block rewards fell by 2% in October, reaching its lowest level on "recent records." On the positive side, transaction fees spiked to 60% of block rewards at the end of the month, providing some relief to hash prices.
On September 9th, according to CoinDesk, the market suddenly fell after the employment report was released on Friday, and long positions in cryptocurrencies over $220 million were liquidated. Presto Research analysts Peter Chung and Min Jung said in today's report, "Bitcoin is seriously undervalued, and macro factors have dominated the BTC price discussion recently. The market ignores the support ratio...
Following a fourth straight day of net outflows on Friday, the US-based spot bitcoin exchange-traded fund posted a net loss overall in August, but the loss was modest at just $94 million. SoSoValue data shows that on August 23, the net inflow of spot bitcoin ETFs exceeded $250 million, which was the best day for funds this month. On August 2, the worst day for spot bitcoin ETFs was a net outflow of 237 million dollars. Due to the bitcoin price falling back from its highs earlier this month, all ...