Bitcoin (BTC) miners made the biggest sale in the last 3 months yesterday.
Julio Moreno, official of the on-chain data and analytics platform CryptoQuant, said in his post on Twitter on June 11 that Bitcoin miners have seen the largest sales volume in the last 3 months.
In the statement made by Moreno, the following statements were made:
Yesterday, we saw the largest daily miner sales volume since late March at 1,200 Bitcoins. Some large mining companies are selling some of their reserves. These are sold OTC rather than through the exchange.
Miners were in a difficult situation when the production cost doubled after the Bitcoin halving on April 20. It is estimated that the decline in Bitcoin price and increasing costs may have been effective in these sales. In other news, CryptoQuant CEO Ki Young Ju In his post on Twitter on June 11, he said that 1,000 BTC of this sale came from Marathon Digital.
Recently, the tension caused by the US Federal Reserve (FED) interest rate decision and inflation data had caused a serious decline in the cryptocurrency market.
According to CoinGecko data, Bitcoin price at the time of writing $67,435 is traded at levels.
