{"id":132999,"date":"2024-07-13T07:30:36","date_gmt":"2024-07-13T04:30:36","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=132999"},"modified":"2024-07-12T23:40:37","modified_gmt":"2024-07-12T20:40:37","slug":"critical-bitcoin-metric-shows-potential-market-turnaround","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/critical-bitcoin-metric-shows-potential-market-turnaround\/","title":{"rendered":"Critical Bitcoin Metric Shows Potential Market Turnaround"},"content":{"rendered":"<p>The slowing decline in <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">Bitcoin\u2019s<\/a><\/strong> hashrate, a measure of the network&#8217;s processing power, often signals a potential momentum shift for Bitcoin.<\/p>\n<p>Coutts emphasizes that this prediction hinges on the stabilization of BTC\u2019s hashrate decline.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Observing that <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>&#8216;s hashrate decline is slowing, which typically precedes a bottom and reversal of the bearish cross post-May halving.<\/p>\n<p>However, this is predicated on a stabilization in the downtrend. The market is still digesting the supply overhang.<\/p>\n<p>Notably, the %\u2026 <a href=\"https:\/\/t.co\/1Xyb8MHBNn\">pic.twitter.com\/1Xyb8MHBNn<\/a><\/p>\n<p>\u2014 Jamie Coutts CMT (@Jamie1Coutts) <a href=\"https:\/\/twitter.com\/Jamie1Coutts\/status\/1811218427438416044?ref_src=twsrc%5Etfw\">July 11, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>He notes that the current gap between the 30 and 90-day moving averages of the hashrate mirrors previous contractions but is less severe than after the 2020 halving.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/breaking-germany-has-sold-off-all-of-its-bitcoin-holdings\/\" title=\"BREAKING: Germany Sells Off All of its Bitcoin Holdings\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/germany-with-new-crypto-rules-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">BREAKING: Germany Sells Off All of its Bitcoin Holdings<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>Regarding the impact of Bitcoin sales from the defunct exchange Mt. Gox, Coutts acknowledges short-term price pain but sees long-term benefits.<\/p>\n<p>The release of Mt. Gox reserves and government sales alleviates the supply overhang, distributing coins to a broader base of holders and strengthening the network.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jamie Coutts from Real Vision highlights a critical Bitcoin (BTC) indicator showing positive signs again.<\/p>\n","protected":false},"author":3,"featured_media":104032,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[],"class_list":["post-132999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Critical Bitcoin Metric Shows Potential Market Turnaround<\/title>\n<meta name=\"description\" content=\"Jamie Coutts from Real Vision highlights a critical Bitcoin (BTC) indicator showing 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