In the near term, the remaining miners, especially those outside of China, stand to collect larger profits, however the market shows signs of stagnation. According to data from Coinbase, bitcoin’s price has been range-bound between $33,197 and $35,909 over the last five days, with a five-day change of +2.4%. BTC-USD Volatility Arcane ResearchCrypto Whales Remain HungryAs analysts are looking for clearer signs in the broader market amidst this relative tranquility, crypto whales (individuals or entities with large amounts of crypto holdings) are ostensibly buying. who currently have exposure to cryptocurrencies and digital assets expect to increase their crypto holdings by 2023. Which means even if price does pop higher, we expect price will lack momentum and ultimately retest $32-30,000 support.”Meanwhile, other top cryptocurrencies including Ethereum, BNB, Cardano and Polkadot are up on the week by 4.2%, 9.2%, 2.8% and 2.1% respectively.

Source: Forbes July 07, 2021 11:17 UTC