diogomury
--
Bearish
Bitcoin has fallen, and the blame is not on the macroeconomic scenario.
The origin is mechanical and comes, once again, from China.
In December, regulation tightened in the Xinjiang province, forcing the shutdown of about 400,000 miners.
The immediate result? The network's hashrate plummeted by 8%.
This creates a financial domino effect:
Without mining, the revenue of these operators goes to zero. However, they urgently need cash to cover costs and move thousands of machines to other countries. The only way out is to dump their BTC reserves on the spot market.
This creates real selling pressure.
It is a supply shock caused by state policy, not by lack of demand.
We know this cycle well:
China tightens → miners sell → the price fluctuates → the network adjusts and migrates to freer locations.
In the long run, this is positive: Bitcoin becomes less dependent on China and more decentralized. The fundamentals remain intact. Expect volatility now, but know that this is just a logistical adjustment, not a structural collapse. $BTC
The origin is mechanical and comes, once again, from China.
In December, regulation tightened in the Xinjiang province, forcing the shutdown of about 400,000 miners.
The immediate result? The network's hashrate plummeted by 8%.
This creates a financial domino effect:
Without mining, the revenue of these operators goes to zero. However, they urgently need cash to cover costs and move thousands of machines to other countries. The only way out is to dump their BTC reserves on the spot market.
This creates real selling pressure.
It is a supply shock caused by state policy, not by lack of demand.
We know this cycle well:
China tightens → miners sell → the price fluctuates → the network adjusts and migrates to freer locations.
In the long run, this is positive: Bitcoin becomes less dependent on China and more decentralized. The fundamentals remain intact. Expect volatility now, but know that this is just a logistical adjustment, not a structural collapse. $BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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