⛏️📉 Bitcoin Mining Decline: What Does It Mean for the Market?

📊 Bitcoin mining balances have been falling since April 2024, but the latest drop of 85,503 BTC in 48 hours is the most significant since February, when the price came close to the all-time high of US$$ 73K.

⚠️ Important details:

🔹 Mining wallets have not been following the price for much of the year.

🔹 Despite this, non-mining whales and sharks continue to accumulate.

🧐 Market impact:

➡️ This movement is not a clear indication of bullishness or bearishness, maintaining the net neutral signal in the short term.

➡️ The possible disconnect between miners and large investors may indicate a market in strategic transition.

🔮 What to monitor? If whale accumulation continues, it could be a sign of strong market support even as miners exit.

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