Could Bitcoin miners be a threat?

According to analysis, the ongoing sales of Bitcoin miners could push the BTC price to $54,000.

The cryptocurrency market is also going through turbulent times in September. After falling to $52,500 at the beginning of the month, BTC rose to $58,000 the other day. Although the price movement in BTC made investors nervous, it did not scare analysts.

Despite analysts' expectations of an increase, #Bitcoin miners' on-chain transactions drew attention. AMBCrypto stated that the balance in miner wallets dropped to 1.8 million BTC and sales continue.

#Bitcoin (BTC), which increased by more than 4 percent in the last 24 hours, could not rise above the $60,000 resistance. The sales of Bitcoin miners created anxiety amid the rise in the market.

According to Glassnode's on-chain data, miners have been selling since September 2. The miner sales that took place parallel to the market decline were disrupted on September 8. It was seen that miners were selling even if BTC rose on that date.

The analysis predicts that 1.8 million $BTC will continue to create selling pressure.The decrease in miners' balance also affected the hashrate on the blockchain. Coinwarz reported that #BTC hashrate has decreased to 712.57 EH/s in the last few days.

AMBCrypto, who said, "Selling pressure usually results in price corrections," suggested that miners can affect the BTC price.

The leading cryptocurrency recorded a trading volume of $ 35 billion in the last 24 hours. With BTC's 4 percent increase in the last 24 hours, $ 122 million was liquidated from the crypto market.