Bitcoin miners recorded the highest reserve sale in late March 2024 amid plunging crypto prices and heightening liquidations. Bitcoin miners hold or sell reserves depending on the prevailing sentiment making it a factor in market trends. At press time, the crypto market continues to see outflows as several assets plunge ahead of the Federal Open Markets Committee (FOMC) meeting.
Bitcoin Miners Sell 1200 BTC
Bitcoin miners sold 1,200 assets on June 10 marking the largest number since late March. According to crypto analytics firm CryptoQuant, miners continued outflows with large firms reducing a portion of their reserves.
“Sings of #Bitcoin miner capitulation: yesterday we saw the largest daily miner selling volume since late March: 1,200 Bitcoin. Some big mining companies have been selling a portion of their reserves. These are Bitcoin being sold OTC, not in exchanges.”
This year, Bitcoin miners have repositioned reserves along with market trends. The Bitcoin halving which sa
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