Cycle according to Cryptoquant survey
Major cryptocurrency miners are currently in accumulation mode. This is in stark contrast to the approach of small cryptocurrency miners, who have continued to sell since Bitcoin's (BTC) most recent fourth block reward halving.
Large miners accumulate, small miners sell but the weekly trend is up.
1.Crypto mining giant Marathon Digital recently bought $100 million in BTC and announced a "full HODL" strategy
2.Some Bitcoin mining companies have turned to artificial intelligence (AI) due to falling mining profits
3.The decrease in profits has pushed miners to look for new sources of revenue. And miners are continuously selling btc -> the market is likely to go sideways.
4.Recent actions by the US government regarding BTC holdings have created new selling pressure on Bitcoin.
4.Bitcoin price has faced selling pressure from actions by regulators and major players in the market, which has also impacted the altcoin market.
--> Most of the news is not optimistic according to the economic situation, but btc is still the best place to store assets compared to depositing money in banks, real estate, business (of course, only considering idle cash flow in this unstable period). In terms of security, safety, and value retention.
#Bitcoin_Coneference_2024 #BinanceHODLerBANANA #SOFR_Spike #BinanceTurns7
