Miners started to change position

Miners-started-to-change-position

In the last couple of weeks, difficulty decreased %10 and miners started to change their behavior from spending to HODL. However next difficulty change will be tomorrow.

We started to see from MPI and Miner Reserves charts that they already started preparing themselves.

So when they are not spending what they produce, BTC price sees some support on trading ranges. However, If this behavior needs to change again, we can see that price will not have miners support.

Since all crypto market will be heavily correlated with BTC recently, lets be careful next 2 weeks. Nasdaq & SPX are in critical levels according to bear market, miners could unload what they produce or at least will not HODL. Difficulty will increase another %10. Nothing will be favorable on miners side.

Of course if there will be enough demand, it will not be a big issue. However thinking of all short liqudations and right now everyone is taking long bets. Maybe this will not be that easy.