Sprint worth explodes 100%, BCH breaks out as Bitcoin cools off under $40Ok
Dash price explodes 100%, BCH breaks out as Bitcoin cools off below $40K
(BTC) price has once again dropped below the $40,000 level on Jan. 10 after crisscrossing it for the past three days as the spotlight shifted to altcoins, namely Dash (DASH) and (BCH). The BTC price drop comes after another failure to break through resistance at $41,500 in weekend trading.
1-hour candle chart vs. (orange), (blue). Source: Tradingview
One reason for the drop is likely an uptick in selling by miners. As reported yesterday, the Miner’s Position Index (MPI) that calculates the ratio of BTC leaving all miner wallets to its 1-year moving average has reached levels where miners are selling.
BTC/USD vs. MPI. Source: Twitter/@ki_young_juCrypto Fear & Greed index. Source: Digital Assets DataBCH/USD 1-day candle chart (Bitstamp). Source: TradingviewDASH/USD 1-hour candle chart (Coinbase). Source: Tradingview
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