BTC’s price may drop like it did in May 2023.
Miners were selling their holdings instead of selling it.
According to SignalQaunt, an author profile on CryptoQuant, Bitcoin [BTC] miners have started sending large volumes of coins to exchanges. Sending a high amount of BTC into exchanges has hardly a good impact on the price.
For instance, there was a similar situation in May 2023. During that time, the Bitcoin price fell from $29,000 to $26,000.
Source: CryptoQuant
With the scenario playing out again, the SignalQaunt handle noted that:
“We need to keep an eye on whether this surge in miner deposits is temporary or sustained for wise investment.”
BTC miners shed holdings
Bitcoin’s price over the last few days has been moving sideways. But with a possible plunge coming, the coin might shed a significant part of its value.
This potential was in contrast to the expectations of a price increase in the first part of January 2024.
AMBCrypto then considered the Miner Net Position Ch
We współpracy z: https://ambcrypto.com/is-buying-bitcoin-right-now-a-good-strategy/
