According to Golden Finance, 10x Research published an article on the X platform saying that Bitcoin miners may sell $5 billion worth of BTC after the halving, mainly due to the following three factors:
1. The cryptocurrency market may face challenges during a six-month "summer" lull as Bitcoin miners prepare to sell off a large amount of their BTC inventory, which has been accumulated in the past few months and may disrupt market dynamics;
2. This is a typical situation before the Bitcoin halving (April 20). Miners will hoard Bitcoin, causing an imbalance between supply and demand, and the price of Bitcoin will rebound. In this case, altcoins may be the first to be affected;
3. According to calculations, miners may liquidate $5 billion worth of BTC after the halving. The surplus caused by this sell-off may last for four to six months, which also explains why Bitcoin may fluctuate sideways in the next few months, as it did after the past halvings.