Bitcoin Faces Short-Term Decline Amid September Weakness and Mining Revenue Drop

From dupoin.com

Bitcoin is likely to encounter short-term downward pressure, as historically, September has been a challenging month for the cryptocurrency, averaging a return of -4.45%. In contrast, October typically sees stronger performance, with an average return of 22.90%, based on CoinGlass data. Bitcoin miners are facing significant difficulties; August saw a decline in total Bitcoin mining revenue to $8.5136 billion, the lowest this year, marking a decrease of $99.75 million from July, according to The Block. Analysts have highlighted that $56,000 represents a critical support level for miners, with Bitcoin recently touching ... (full story)