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Analyst Says Speculators and Bitcoin Miners Responsible for BTC’s Recent Plunge Below $60,000 $BTC Follow Me And Send Your Id To Win 10$USDC A combination of speculators continuously opening new long positions and miners dumping נitcoin to pay for hardware upgrades caused the top cryptocurrency to plunge to $58,000, according to an onchain analyst. The analyst expects the top crypto asset to rebound once the ongoing “culling of weak miners” is complete.
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Bitcoin ($BTC ) retains its position as the leading cryptocurrency by market cap, and its dominance garners attention from investors. ( #CPIAlert #BTCFOMCWatch #TopCoinsJune2024
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