Poolin: Files for Bankruptcy

Poolin, the former largest Bitcoin mining pool, filed for bankruptcy with plans to sell two Texas mining sites while reporting as little as $1M in assets against up to $500M in liabilities and owing roughly $173M including $164M to customers after halting withdrawals.

At its 2019 peak Poolin mined one in every seven BTC blocks worldwide, a scale that underscores how sharply its position eroded in the last six to twelve months amid sustained bearish pressure on BTC price action. On the 4h chart price sits at $64192.59 inside a bearish structure with EMA50 at $65025.2 acting as overhead resistance and EMA200 at $63795.44 providing the nearest structural floor, while MACD registers a death cross at -79.22 and RSI at 36.48 remains neutral; the pair is currently testing the lower Bollinger band support at $64419.45, suggesting any bounce attempt will likely stall at the $66977.66 upper band before a deeper retracement to the 50-EMA confluence zone materializes.