Are Miners the Reason for the Decline in Bitcoin? 20 Thousand BTC Sold in One Week!

Bitcoin miners attracted attention by making the biggest BTC sale in the last 6 months.

Bitcoin has increased approximately in the last week 5% decrease by living 28 thousand dollars from the band up to $26,500 As he retreated, all eyes turned to the cause. Crypto analytics platform IntoTheBlock offered by to data According to Bitcoin miners, in the last week approximately $540 million worth From 20.00 BTC made more sales.

Miners process Bitcoin sales transactions provide cash flow And to make their business sustainable doing. While these sales become less frequent in periods when the Bitcoin price increases, sales rates increase in periods when the price decreases. Although the sales made by miners are not a surprise, the impact on the Bitcoin price One of the factors that increases sales pressure It is accepted as.

With this sale, the reserve amount of all miners to 1.93 million Bitcoins declined. A level close to this was last seen in May 2023.

Additionally, the fact that Bitcoin mining difficulty is at an all-time high (ATH) may be pushing miners to sell. According to the data on the last adjustment, 0.35% point with the increase 57.32 trillion The difficulty level reaching the level of mining operations was among the factors that made mining operations more costly.

According to CoinGecko data, in the last 24 hours 2.9% Bitcoin losing value, 27,400 at dollar level 26,570 It fell to the dollar. Bitcoin at the time of writing 26,630 It finds buyers in dollars.

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