Power Analysis

Bitcoin Miners vs Bitcoin Price: The Correlation Disconnect & HODL vs MCAP Analysis!


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We examine the correlation between Bitcoin miners and Bitcoin price movements as recent tariff announcements caused market volatility. 

• Bitcoin drops from $112,000 to $107,000 after Trump announces potential 50% tariffs on EU imports
• Many Bitcoin miners trading below the value of their Bitcoin holdings, unlike MicroStrategy which trades at 2x premium
• Marathon, the largest Bitcoin miner, currently trades below the value of its Bitcoin holdings
• ETF inflows remain strong with $934 million in a single day, marking seven consecutive days of substantial inflows
• Bitcoin held on exchanges approaching all-time lows with over 107,000 Bitcoin removed in recent months
• BlackRock alone purchased the equivalent of 18 days of Bitcoin production in a single day
• James Wynn holds an $809 million leveraged (40x) long position with a liquidation price of $102,000
• Different mining companies pursuing varied strategies regarding Bitcoin accumulation
• Bitcoin conference in Las Vegas next week will bring together industry leaders and investors

Join us next week for more insights and analysis as we attend the Bitcoin conference in Las Vegas.

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Power AnalysisBy Anthony Power & Bryce McNallie

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