Bitcoin

A recent analysis by cryptocurrency analysis firm CryptoQuant revealed that Bitcoin miners' selling pressure has reached its lowest level in almost seven years.
This significant drop in selling pressure is reflected in the flow of Bitcoin from miners' wallets to exchange wallets, which is currently at its lowest level since 2017.
Contrary to popular belief, miners actually sell BTC all the time. This is how new Bitcoins reach the market. The current shipment flow from miners to exchanges is at an average of 90 BTC per month, the lowest it has been in years.
Related News: <a href="https://en.bitcoinsistemi.com/bitcoin-btc-options-hit-a-historic-high-what-does-it-mean/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin (BTC) Options Hit a Historic High: What Does It Mean?</a>
Despite low selling pressure, miners' revenues have increased over the last three months, reaching the highest levels of the year. This is a positive sign for the Bitcoin market, as miners are the only entity in the market that requires ongoing costs. They need to invest in electricity, maintenance and machinery to maintain their operations.
Miners' behavior is always linked to the BTC price to a certain extent. The volume of BTC currently held by miners accounts for approximately 9.40% of the total Bitcoin circulating supply. In the analysis by CryptoQuant, experts ultimately point to a positive trend in the BTC market, with low selling pressure from miners and increasing revenues.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/selling-pressure-by-bitcoin-miners-is-at-a-7-year-low-whats-happening/" rel="noopener noreferrer nofollow">Selling Pressure by Bitcoin Miners is at a 7-Year Low: What’s Happening?</a>

Selling Pressure by Bitcoin Miners is at a 7-Year Low: What’s Happening?

Bitcoin Sistemi EN

Other articles published on Nov 20, 2023

HAPPY #XMT2Y

Worldcoin Token Swings Amid Altman's Ousting and Replacement

$2 Billion Surge on Solana (SOL) DeFi Exceptional, Here's Why

Microsoft Hires Sam Altman after Weekend-Long OpenAI Drama That Sent Worldcoin Price On a Wild Ride

Crypto Analyst Michaël van de Poppe Predicts Bitcoin Breakout to $38-40K in December

Bitcoin Price Reaches $37,000: What Do Experts Say About the Future?

Join our free newsletter for daily crypto updates!