Bitcoin (BTC) has fallen 4.5% in the past seven days, going to a monthly low of $65,000. This plunge in the digital asset’s value could be linked to increased selling from mining entities.
In the latest CryptoQuant weekly report, analysts revealed that the number of BTC sent from Bitcoin mining entities to exchanges has reached a two-month high amid a decline in their revenues due to lower transaction fees.
Miner Selling Hits Two-Month High
On June 9, the hourly transfer of BTC, mainly from the btc.com mining pool, to the crypto exchange Binance hit a two-month high of more than 3,000 BTC. The next day, miners sold at least 1,200 BTC via over-the-counter desks, recording their highest daily volume since late March, when the daily volume totaled 1,600 BTC.
Large Bitcoin mining companies have also increased their selling activity. One such is the U.S.-based Marathon Digital, which has offloaded 1,400 BTC so far in June. The entity’s June sale represents 8% of its total holdings, a ma
We współpracy z: https://cryptopotato.com/bitcoin-miners-are-selling-again-cryptoquant/
