CryptoQuant: Miners increase Bitcoin selling pressure when Bitcoin prices drop
ChainCatcher news, CryptoQuant analyst @ITTechPL wrote an analysis pointing out that miners tend to increase Bitcoin sales when the price of Bitcoin drops. When BTC fell to $77,000, the transfers from miners to exchanges surged.
Forced sales by miners may affect market liquidity and indicate that they are facing financial pressure due to rising costs. Historically, miners have often sold more Bitcoin when prices decline to cover operational costs.
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