Glassnode: 78,400 BTC Could Be Liquidated if the Currency Falls Below $18,300
According to experts at analyst firm Glassnode, 78,400 BTC could be at risk of liquidation if the Bitcoin price falls below $18,300, which is derived from the mining distress regression model.
According to them, there is an increasing likelihood of higher volatility after a long period of consolidation in the $18,000-20,000 range.
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Against the backdrop of price stability, mining-related metrics are improving, which is a sign of an improving conjuncture in the coming months. In particular, the Bitcoin hashrate has reached a record high of 242 EH/s, which is equivalent to the simultaneous calculation by 7.753 billion people on the planet of 30 billion SHA256 hashes.
The growth in the hashrate of the largest crypto on the market is due to the introduction of the most efficient ASIC devices.