📉🚀 BTC - Miners' Selling Pressure Eases!
Great news for all crypto enthusiasts! One of the recent causes of the cryptocurrency market's decline—active selling by miners—is starting to weaken. 🥳
After the #bitcoinhalvingn , when mining rewards were cut in half, older mining machines became unprofitable. As a result, mining activity decreased, and miners began selling $BTC in OTC transactions to cover their operational costs.
But now, the market is in the process of digesting this massive sell-off. Accordinf to CryproQuant, the quantity and volume of bitcoins that miners are sending out of their wallets are rapidly decreasing. 📉
In other words, the #selling pressure from miners is weakening. If the market can absorb all their selling volume, there's a chance for the upward rally to continue. 💪
Positive movements in the #cryptocurrencymarket are expected in the third quarter of 2024. 🚀🌕
