sell-offs
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Why did Bitcoin #miners sell their coins in October?
In recent days, #Bitcoin [$BTC ] miners avoided the hoarding mentality and sold off a sizable portion of their holdings. The most aggressive wave of selling since April, according to on-chain analytics company IntoTheBlock, has seen miner reserves plummet by more than 20,000 since the beginning of the week.
Significance of miner #sell-offs -
As more coins flood the market, sell-offs are often seen as bearish events. However, miner liquidations happen frequently and shouldn't be considered unusual.
New Bitcoin coins are released into circulation by miners. This takes the form of preset rewards for each block they validate and add to the Bitcoin network, which are presently set at 6.25 #BTC .
In recent days, #Bitcoin [$BTC ] miners avoided the hoarding mentality and sold off a sizable portion of their holdings. The most aggressive wave of selling since April, according to on-chain analytics company IntoTheBlock, has seen miner reserves plummet by more than 20,000 since the beginning of the week.
Significance of miner #sell-offs -
As more coins flood the market, sell-offs are often seen as bearish events. However, miner liquidations happen frequently and shouldn't be considered unusual.
New Bitcoin coins are released into circulation by miners. This takes the form of preset rewards for each block they validate and add to the Bitcoin network, which are presently set at 6.25 #BTC .