2024

Bitcoin

Coin

<ul class="news-points">
 <li><strong>Early Bitcoin miners selling decade-old holdings contribute to BTC price correction.</strong></li>
 <li><strong>Low liquidity exacerbates the impact of large sell-offs, triggering a significant price drop.</strong></li>
 <li><strong>ProShares Short Bitcoin Strategy ETF sees the highest volume as traders bet on declining prices.</strong></li>
</ul>
<p>Bitcoin’s recent price correction has raised eyebrows as onchain data suggests that a significant amount of Bitcoin mined in 2010 was dumped following the all-time high (ATH) breach. This move, partially attributed to early Bitcoin miners cashing out their decade-old block rewards, has had a tangible impact on the market, with Bitcoin witnessing a <a href="https://www.forbes.com/sites/brianbushard/2024/03/05/bitcoin-price-hits-all-time-high-around-69000/?sh=75611b4566a2" target="_blank" rel="noopener noreferrer nofollow">decline</a> to around $65,500 after briefly <a href="https://coinedition.com/bitcoin-breaks-record-surpasses-69000-for-the-first-time-since-2021/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">touching</a> $69,000.</p>
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   <p lang="en" dir="ltr">NEW: It appears that a large amount of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a>&nbsp; mined in 2010 was dumped following the ATH, partially contributing to today's price correction <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/QeJ2s6kJLb" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/QeJ2s6kJLb</a></p>— Jason A. Williams (@GoingParabolic) <a href="https://twitter.com/GoingParabolic/status/1765128406079840565?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">March 5, 2024</a>
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<p>According to insights from <a href="https://cryptoquant.com/asset/btc/chart/network-indicator/spent-output-age-bands?window=HOUR&amp;priceScale=log&amp;metricScale=linear" target="_blank" rel="noopener noreferrer nofollow">CryptoQuant</a>, 1,000 Bitcoins, valued at approximately $69 million, were sent to the cryptocurrency exchange Coinbase from an address dating back to 2010, just before Bitcoin hit its latest ATH.&nbsp;</p>
<p>The transfer of such a substantial amoun…</p>
<p>The post <a href="https://coinedition.com/new-bitcoin-ath-triggers-massive-miner-selloff-of-coins-mined-in-2010/" rel="noopener noreferrer nofollow">New Bitcoin ATH Triggers Massive Miner Selloff of Coins Mined in 2010</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

New Bitcoin ATH Triggers Massive Miner Selloff of Coins Mined in 2010

Coin Edition

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