Canaan: Sells $130M Bitcoin for Share Buybacks
Canaan sells $130 million BTC holdings for buybacks as public miners exit, with BTC at $64357.91 showing bullish EMA structure yet MACD death cross on 4h chart.
SourceAnalysis
Canaan will monetize a portion of its BTC holdings valued at $130 million for share buybacks, confirming every public Bitcoin miner is leaving Bitcoin. At $64357.91 the 4h chart holds a bullish trend with price above EMA50 support at $64051.2 and EMA200 at $63646.49, yet the MACD death cross at 232.84 signals fading momentum while RSI sits neutral at 53.84 inside the Bollinger band; a test of upper resistance at $64997.47 remains possible only after any healthy retracement to the 50-EMA. This miner exit wave sharpens BTC price prediction models and raises crypto market crash concerns as selling pressure builds.
Charles Edwards
@caprioleioFounder of Capriole Fund and The Ref.io, leading ventures in the digital asset ecosystem.
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