Bitcoin Miners Unload 20,000 BTC In A Week, Largest Sell-Off Since April: What's Going On?
Portfolio Pulse from Mehab Qureshi
Bitcoin miners have reportedly sold over 20,000 BTC this week, marking the largest amount sold since April. This suggests that miners are capitalizing on higher Bitcoin prices to offset their operational costs. The sell-off can add significant sell pressure to the market. Most cryptocurrencies experienced minor corrections over the past week, but Bitcoin remained relatively flat, hovering around the $27,400 level.
October 11, 2023 | 10:32 am
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Bitcoin miners have sold over 20,000 BTC this week, potentially adding significant sell pressure to the market. Bitcoin price remained relatively flat, hovering around the $27,400 level.
The large sell-off by Bitcoin miners could add significant sell pressure to the market, potentially leading to a decrease in Bitcoin's price. However, despite this sell-off, Bitcoin's price has remained relatively flat, indicating its resilience.
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