ETH Exchange Inflow Spikes; Major Mining Pools to Back ETHW Mining
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Major cryptocurrencies have largely maintained sideway movements one day after the alarming inflation readings sent risk assets into a downward spiral. As of the time of writing, BTC manages to hold fast above the $20k threshold despite posting a marginal loss in the last 24 hours. A key bearish trend line with resistance near $20.5k is taking shape on the hourly chart. Furthermore, technical indicators suggest that BTC’s spot price is at major risk as it is currently knee-deep in a bearish zone with strong downside pressure near the $20.3k to $20.5k region.