**BREAKING NEWS ALERT**

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Since November 2023, Bitcoin miners have been selling more Bitcoin than they have been mining, marking the longest stretch of net selling since 2017. This trend has led to miners holding the smallest Bitcoin reserves in over 14 years.

The primary driver behind this shift is the Bitcoin halving event in April, which reduced the block reward from 6.25 BTC to 3.125 BTC. With this reward being a key part of their income, many miners have had to sell their Bitcoin holdings to sustain their operations amid decreased profitability.

Economic strains have also triggered a wave of mergers and acquisitions within the mining sector. Companies like Hut 8, CleanSpark, and Core Scientific are making strategic deals to consolidate resources and improve efficiency. These actions are responses to the new economic conditions following the halving and its effect on miner earnings.

As miners deal with these challenges, the market continues to adapt to the shifting dynamics of Bitcoin supply and demand.

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