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Bitcoin

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The Bitcoin price has experienced a downward pressure, <a href="https://www.coingecko.com/" rel="noopener noreferrer nofollow">trading</a> at $41,183 at press time. This decline marks a second consecutive day of losses for the world's premier digital currency.&nbsp;
However, the flagship cryptocurrency continues to hold the make-it-or-break-it $40,000 level despite persistent selling activity from miners. &nbsp;&nbsp;
Data analyzed from recent Bitcoin miner activity indicates a persistent selling trend, with the net position change of miners demonstrating a notable increase in sell volumes.&nbsp;
This trend, which is highlighted by a series of red bars in the latest Glassnode chart, shows that miners are divesting their Bitcoin holdings at an accelerated rate.&nbsp;
<blockquote>
 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> remains strong, holding above $40,000, despite ongoing sales from miners. <a href="https://t.co/YDiltmkrN6" rel="noopener noreferrer nofollow">pic.twitter.com/YDiltmkrN6</a>— sunnydecree (@sunnydecree) <a href="https://twitter.com/sunnydecree/status/1734608579427221555?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 12, 2023</a>
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The reasons for this surge in sales may range from operational cost coverage to a strategic response to market conditions or expectations of future price movements.&nbsp;
Such miner behavior is closely monitored by investors as it can significantly influence Bitcoin's market liquidity and price stability.
For now, financial markets remain on a knife-edge as investors weigh the potential impact of the U.S. Federal Reserve's <a href="https://u.today/breaking-bitcoin-remains-steady-as-fed-raises-interest-rates-to-22-year-high" rel="noopener noreferrer nofollow">rate decision</a>.
There might be a lift in investor sentiment if the Fed signals a continuation of its current monetary policy stance.

Key Reason Why Bitcoin (BTC) Price Is Under Pressure

U_Today

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