📉 Bitcoin's price took a nosedive this week, causing $300M+ in crypto market liquidations. But why? 🤔

1️⃣ Bitcoin miners are selling off. Since the 4th BTC halving in April, miners have been consistently selling their BTC due to lower revenues & high competition. On June 9, >3000 BTC were transferred from mining pools to Binance, marking a 2-month peak.

2️⃣ Mt. Gox is repaying customers their long-lost Bitcoin in July. The exchange holds over 141,000 BTC worth more than $8.5 billion, causing investors to fear a sudden wave of BTC sell pressure.

But hey, don't forget that just a year ago Bitcoin was trading at $30,000 and a year before that? $10,000. So, chin up! 🚀

What's your take on this? Let's chat in the comments! #Bitcoin #CryptoNews