Bitcoin Becomes Easier to Find as Mining Difficulty Drops 2.35%
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Bitcoin’s difficulty adjustment algorithm (DAA) records a readjustment every 2,016 blocks, or every two weeks. The adjustment is based on the time required to solve the previous 2,016 block subsidies. The difficulty is designed to maintain a steady block discovery period of around 10 minutes.
Over the last three days, the mining pools with the most discovered blocks include Foundry USA, F2pool, Antpool, Poolin, and Viabtc. All five mining pools dominate the Bitcoin mining scene as they currently account for 72.8% of the global hashrate.
Over the last 30 days, 4,271 BTC blocks have been discovered, with Foundry finding the majority at 956 blocks. Antpool came in the second position, unearthing 636 blocks, while F2pool, Poolin, and Viabtc discovered 591, 457, and 434 blocks, respectively.
Key Bitcoin Levels to Watch — June 23
Bitcoin continues to crawl along the $20K axis as it remained unable to return above the $21K barrier. The daily oscillating indicators highlight the persisting absence of any driving momentum in the market over the past few days.
That said, another weekend is afoot suggesting we could witness renewed volatility soon. With the overall bias titled overwhelmingly in favor of bears, we should see a leg-down to the $19K area over the weekend.
Meanwhile, my resistance levels are at $21,000, $22,000, and $23,000, and my key support levels are at $20,000, $19,000, and $18,000.
Total Market Capitalization: $909.2 billion
Bitcoin Market Capitalization: $390.5 billion
Bitcoin Dominance: 42.9%
Market Rank: #1
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