Canaan: Shares Drop on $88.7 Million Q1 Loss

Canaan shares declined after the Bitcoin mining company reported an $88.7 million first-quarter net loss, its second consecutive negative period amid ongoing pressure on Bitcoin mining operations.

Price action on the 4h chart shows BTC at $76815.75 inside a bearish trend with EMA50 resistance at $78558.13 and EMA200 at $77358.06; neutral RSI at 39.56 combined with the MACD golden cross points to consolidation before any test of upper Bollinger resistance near $78825.82, shaping near-term BTC price prediction and crypto market volatility expectations for miners.