Bitcoin

<ul class="news-points"> 
 <li><strong>An analyst believes BTC could soon be facing huge sell pressure from miners.</strong></li> 
 <li><strong>Data from Glassnode indicated that miner revenue sent to exchanges had reached a new ATH of 315%.</strong></li> 
 <li><strong>BTC’s price was able to climb by 0.56% in the past 24 hours, which left it trading at $26,401.61.</strong></li> 
</ul> 
<p>One significant challenge currently facing <a href="https://coinedition.com/tag/bitcoin-btc-news/">Bitcoin’s (BTC)</a> supply dynamics, which seems to be receiving limited attention, is the escalating selling pressure from miners. According to a post shared on X (formerly Twitter) by analyst Miles Deutscher earlier today, there is a combination of factors contributing to BTC’s dilemma.</p> 
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   <p lang="en" dir="ltr">One of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Bitcoin</a>'s biggest supply headwinds right now (that no one is taking about) is the increasing miner sell pressure.<br><br>ATH hash rates, peak difficulty + rapidly rising energy prices have combined to heavily affect mining profitability.<br><br>With rewards set to be cut in half via… <a href="https://t.co/HlL2nuendj" target="_blank" rel="nofollow">pic.twitter.com/HlL2nuendj</a></p>— Miles Deutscher (@milesdeutscher) <a href="https://twitter.com/milesdeutscher/status/1707204366237901119?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">September 28, 2023</a>
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<p>Some of the issues include the all-time high (ATH) hash rates, the highest level of mining difficulty, and the rapid increase in costs, all of which have significantly impacted the profitability of mining…</p>
<p>The post <a rel="nofollow" href="https://coinedition.com/bitcoin-btc-faces-growing-miner-selling-pressure-analyst/">Bitcoin (BTC) Faces Growing Miner Selling Pressure: Analyst</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Bitcoin (BTC) Faces Growing Miner Selling Pressure: Analyst

Coin Edition

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