The Reason for the Drop in Bitcoin (BTC) Revealed: The Most Aggressive Miner Sale in the Last 7 Years

With the collapse of FTX, Bitcoin (BTC) continues to decline, while the most aggressive miner sale of the last 7 years is experienced.

CEO and on-chain analyst at Capriole Investmens Charles Edwards On November 21, via his official social media account. in his postend Three weeks in bitcoin pressure of miners to 400% Noting that there has been an increase of up to The most aggressive increase in 7 years stated that.

Edwards said that miners are already selling below cost, and that many mining companies do not expect the price of Bitcoin to rise anytime soon. bankruptcy stated that he will.

miners at current price produce and hold Claiming that he could not adopt the strategy of “don’t sell” He said his strategies paid the price. Edwards, in this sector, companies’ Bitcoin position. constantly managing He stressed that he had to.

On the other hand, an analyst said that while the price fell in response to Edwards’ share, the hashrate increased very much. cheap Some with access to energy of whales to the industry you entered on a large scale He claimed it was a sign.

Iris Energy, a Bitcoin mining company, has been unable to repay its loan of approximately $108 million and defaulted, citing that its cash flow has deteriorated due to the recently falling Bitcoin price.

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