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Miners sell Bitcoin: 3 times more people enter exchanges - Bitcoin news - Uzmancoin - Cryptocurrency and Blockchain
Grayscale's hundreds of millions of dollars in sales have now been joined by major mining companies. It is seen that miners, who sold more than 10 thousand BTC in 1 day last week, continue these sales intensively.
"The number of BTC going to the stock market is 3 times higher"
According to on-chain data platform CryptoQuant, mining companies are holding less and less Bitcoin reserves. In their latest report, the company's analysts also pointed to the number of Bitcoins entering exchanges:
"The number of BTC going from miners to exchanges has increased to 3 times the number going from exchanges to miners. The fierce selling pressure of mining companies continues in the same way. This ever-increasing pressure could also have a negative impact on the price of Bitcoin in the short term."
It was seen that the miners sold 10,600 BTC in 1 day last week, and this figure corresponded to the record of the last 1 year. It is known that US-based companies, in particular, have made serious investments and placed orders for new machines after the halving.
Grayscale has sold more than 106,000 BTC since the ETFs opened on Jan. 11, keeping the selling pressure at serious levels.
The Bitcoin reward halving is expected to take place in about 87 days.
Published: January 26, 2024 09:49