2024

Bitcoin

April

Billion

<p>The post <a href="https://coinpedia.org/news/10x-research-says-bitcoin-miners-to-dump-5-billion-worth-of-btc-altcoin-to-drop/">10x Research Says Bitcoin Miners To Dump $5 Billion Worth of BTC – Altcoin To Drop</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>With <a href="https://coinpedia.org/beginners-guide/what-is-bitcoin-halving/">Bitcoin’s halving</a> event just around the corner, concerns are mounting over a potential flood of BTC supply hitting the market. Analysts at 10x Research <a href="https://mail.10xresearch.co/p/bitcoin-miners-sell-5bn-btc-post-halving-altcoin-graveyard">suggest that Bitcoin miners</a> could liquidate up to $5 billion worth of BTC in the months following the halving, signaling a period of increased selling pressure and market uncertainty.</p> 
<h2 class="wp-block-heading" id="h-btc-miners-to-dump-5-bln">BTC Miners To Dump $5 Bln</h2> 
<p>According to Markus Thielen, head of research at 10x Research, the post-halving sell-off could continue for four to six months, leading to a prolonged period of sideways movement for Bitcoin prices. He believes that miners could potentially liquidate up to $5 billion worth of BTC in the months following the halving.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> Might Trade Sideways for 6 months As Miners Could Sell $5bn of BTC -&gt; Here is why: <a href="https://t.co/gLRgs8yyGg">https://t.co/gLRgs8yyGg</a> <a href="https://t.co/zBLdV95MAl">pic.twitter.com/zBLdV95MAl</a></p>— 10x Research (@10x_Research) <a href="https://twitter.com/10x_Research/status/1778963206691794964?ref_src=twsrc%5Etfw">April 13, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Meanwhile drawing parallels with the 2020 halving, suggesting that a similar scenario could unfold in the cryptocurrency markets. <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin prices</a> remained range-bound between $9,000 and $11,500 for five months following the 2020 halving.&nbsp;</p> 
<p>With this year’s halving scheduled for April 20, markets may experience a “summer lull,” delaying any significant upward trajectory until around October.</p> 
<h2 class="wp-block-heading" id="h-miner-s-profit-making-strategies">Miner’s Profit Making Strategies</h2> 
<p>Leading up to the halving, <a href="https://coinpedia.org/news/bitcoin-miners-could-face-bankruptcy-if-bitcoin-trade-below-80k-says-top-crypto-influencer/">miners often accumulate BTC</a>, creating a supply-demand imbalance that drives Bitcoin prices up. However, once the halving occurs, miners may begin selling off their inventory to avoid a revenue drop.&nbsp;</p> 
<p>Marathon, North America’s largest Bitcoin miner, is expected to follow this strategy, gradually offloading its inventory to remain profitable.&nbsp;</p> 
<p>Thielen estimates that Marathon’s daily BTC production of 28-30 BTC pre-halving could translate to 14-15 <a href="https://coinpedia.org/news/top-crypto-stocks-to-acquire-after-bitcoin-halving-in-april/">BTC post-halving</a>. If all miners adopt a similar approach, it could result in a significant daily influx of BTC into the market, potentially reversing the supply-demand dynamics that fueled the pre-halving rally.</p> 
<p>Also Check Out : <a href="https://coinpedia.org/news/bitcoin-miners-could-face-bankruptcy-if-bitcoin-trade-below-80k-says-top-crypto-influencer/">Bitcoin Halving Countdown: Will Miners Survive the Profit Squeeze? Here’s the Truth</a></p> 
<h2 class="wp-block-heading" id="h-impact-on-the-altcoin-market">Impact On the Altcoin Market</h2> 
<p>The repercussions of this potential sell-off extend beyond Bitcoin, with altcoins likely to bear the brunt of the situation. <a href="https://coinpedia.org/news/crypto-market-analysis-bitcoin-price-bounce-back-what-can-we-expect-from-altcoins-this-week/">Altcoin prices</a> have already experienced significant declines in recent weeks, and Thielen’s analysis suggests that this trend may continue in the aftermath of the halving.&nbsp;</p> 
<p>Despite some <a href="https://coinpedia.org/news/altcoins-season-to-begin-soon-says-top-analyst-citing-previous-historical-pattern/">predictions of an altcoin rally</a> correlated with the halving, historical evidence indicates that any such rally may be delayed by several months.</p>

10x Research Says Bitcoin Miners To Dump $5 Billion Worth of BTC – Altcoin To Drop

Table of Contents

CoinPedia News

Other articles published on Apr 15, 2024

STEPN partners with adidas on exclusive NFT sneakers

Bitcoin’s Price Will Not Reach $100,000 Until 6 Months After The Halving, Experts Say

Price Forecasts for BONK and Solana: Experts Spot This Interesting Buy Signal on $RBLZ, 50x Surge...

BitcoinCash Weekly News April 15th 2024 by the Bitcoin Cash Foundation

Hong Kong Sets Stage for Cryptocurrency Expansion with New ETF Approvals

Ethena Introduces Monthly Custodian Attestations for USDe

Join our free newsletter for daily crypto updates!