Bitcoin Endures Bearish Pressure Amidst Significant Miner Activity ๐
Bitcoin has been under pressure from selling activities by miners, leading to a 5% decline in its value over the past week. This selling pressure has seen the price of Bitcoin drop to $65,000, its lowest level in almost a month.
Bitcoin Miners Sell Over 1,200 BTC in a Day ๐ฐ
Crypto analyst Ali Martinez reported that Bitcoin miners have been actively selling their BTC holdings in recent days. In a single day, these miners offloaded more than 1,200 BTC, equivalent to about $80 million. This increased selling activity may have contributed to Bitcoin’s recent correction to $65,000.
- Martinez’s report highlights the massive amount of Bitcoin being sold by miners.
- The significant selling pressure from miners has impacted Bitcoin’s price negatively.
Bitcoin Shows Signs of Recovery Despite Selling Pressure ๐ช
While the price of Bitcoin dropped to $65,000 recently, there are indications of a potential recovery. Currently valued at $66,266, Bitcoin has experienced a slight 0.7% decline in the last 24 hours.
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