The crypto market turned to red across the board on Wednesday, as the general mood remains shaky. Bitcoin (BTC) burrowed under $8,000 again, after holding above $8,200 for a few days. But the leading asset is still entering a period of growing fears, expecting a price drop to another short-term bottom.
Despite the price drop, mining is near its peak at above 108 EH/s, just slightly below its peak levels above 110 EH/s. Mining keeps expanding, with Bitmain once again boosting its activity in building mining farms.
BTC traded at $8,018.36, minutes after dipping to the $7,900 range. Selling expanded volumes to above $17 billion in 24 hours, as BTC for now shows no signs of a...