📈Bitcoin Miners Sell Like Crazy: Lowest Level Since Bull!
Bitcoin (BTC) reserves belonging to miners have fallen to their lowest level since 2021.
On-chain analytics platform Crypto Quant has revealed remarkable data on Bitcoin miner reserves. In the post shared by the analysis platform on February 2, it was stated that the Bitcoin reserves of miners fell to their lowest level since 2021, especially in the last 2 days.
In the data in question, it was noted that there was a Bitcoin outflow of 600 million dollars from miner reserves in the last 2 days alone:
Over the past two days, miner reserves have dropped by more than 14,000 Bitcoins, a reduction of about $600 million.🔥
The Bitcoin halving, which is expected to take place next May, has increased the selling pressure on miners. With the halving, the vast majority of miners around the world will start working at a loss if the price of Bitcoin cannot rise above $42,000.🔥
Miners, who aim to be prepared for such a scenario, provide themselves with insurance by disposing of their Bitcoins in profit months before the halving. This naturally creates a selling pressure on Bitcoin...
