⚠️ Could Bitcoin Miners Pose a Threat to the Market? 🚨
According to recent analysis, ongoing sales by #Bitcoin❗ miners could push the price down to $54,000. 📉September has already been turbulent for the cryptocurrency market. BTC dropped to $52,500 early in the month but managed a recovery to $58,000. While the price movement has made investors nervous, analysts remain calm.
However, miner activity is drawing attention. According to AMBCrypto, the balance in miners’ wallets has fallen to 1.8 million BTC, with sales continuing. Despite a 4% rise in BTC over the past 24 hours, it struggled to break the $60,000 resistance.
🔍 On-chain data from Glassnode shows that miners have been selling since September 2, even during price increases, which could create further selling pressure. This trend is affecting the BTC hashrate, which has dropped to 712.57 EH/s, according to Coinwarz.
With $122 million liquidated in the crypto market over the last 24 hours, are miners pushing the market toward a correction? 💭
#CryptoNewss #BitcoinMining #BTC☀ #Glassnode
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