According to analysts of Bitfinex, one of the largest cryptocurrency exchanges, the Bitcoin price was negatively affected by the sales of miners.
According to TradingView data, Bitcoin price rose again this week. below 43 thousand dollars fell.
Bitfinex analysts, “Many of the recent declines in Bitcoin price, especially after the SEC approved spot Bitcoin ETFs, have been driven by investors using the volatility in Bitcoin to capitalize on or exit their positions.” to Bitcoin miners selling can be connected.” said.
One of the reasons why Bitcoin miners sell BTC There is an upcoming halving is considered. Regarding this, “Selling now provides miners with the capital they need to update their infrastructure and on market liquidity It reminds us how serious an impact it has.” comment was made.
The amount of Bitcoin in miners’ wallets began to decline after spot ETFs were approved. Analysts, “Last week, miners’ wallets record amount There was an exit and at any moment more sales can be made.” said.
Block reward given to miners after the halving, which is expected to occur in April 2024 From 6.25 BTC to 3.125 BTC will fall.