Bitcoin miners’ holdings fell to their lowest level since 2010, reaching 1.9 million Bitcoin on 6/19/2024, according to the Intotheblock website.
It is expected that miners will be under pressure to sell more Bitcoin.
But on the other hand, let us not forget that Bitcoin is now at a relatively high price, despite the decline in Bitcoin reserves among miners, but the rise in the price of Bitcoin keeps the value of Bitcoin in dollars high.
It seems that miners are seeking to avoid borrowing even if they are forced to sell some of their reserves.
Therefore, we will have declines in the price of Bitcoin in the short term if large quantities of it are put on the market.
There is no need for any concern in the event of major disturbances in Bitcoin in the short term, because Bitcoin has historically been profitable.
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