HomeUncategorizedMining BTC is harder than ever — 5 things to know in Bitcoin this week By Cointelegraph

Mining BTC is harder than ever — 5 things to know in Bitcoin this week By Cointelegraph

October 16, 2023

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© Reuters

(BTC) starts a new week firmly back in the “Uptober” spirit as the weekly close gives way to a classic short squeeze.

In a return to classic BTC price volatility of the kind seen earlier in the month, the largest cryptocurrency is tackling $28,000 ahead of the first Wall Street open.

1-hour chart. Source: TradingView
BTC/USD annotated chart. Source: Michaël van de Poppe/X
BTC/USDT liquidation heatmap. Source: CoinGlass/X
BTC/USD annotated chart. Source: Santiment/X
GBTC premium vs. asset holdings vs. BTC/USD chart (screenshot). Source: CoinGlass
Bitcoin network fundamentals overview (screenshot). Source: BTC.com
Bitcoin raw hash rate data (screenshot). Source: MiningPoolStats
BTC/USD monthly returns (screenshot). Source: CoinGlass