2024 kicked off with a tumultuous journey for Bitcoin, marked by the introduction of new spot ETFs on US markets. Bitcoin’s entry into traditional finance represents a historic move, but miners seem to be selling off their holdings.
This development is especially significant in light of the recent fluctuations in Bitcoin’s price.
According to the latest CryptoQuant data cited by popular analyst Ali Martinez, Bitcoin miners are currently engaged in selling their holdings.
There has been a significant uptick in the selling activities of miners, with approximately 10,600 BTC, equivalent to around $455.8 million, being offloaded earlier this week within a 24-hour period.
The increased selling activity of Bitcoin miners may have significant repercussions for the market. Their activities could exert additional pressure on the price direction, potentially leading to a selling spree.
#Bitcoin Miners in Selling Mode: Recent on-chain data from @cryptoquant_com indicates a substantial increa
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