Bitcoin

Million

Amid falling Bitcoin prices, miners sold 2,655 BTC, valued at more than $156 million, during a single weekend in late August 2024. This large-scale sell-off came as miners sought to cover costs in response to the market downturn, with Bitcoin trading below critical support levels.
Miners sold their Bitcoin at an average price of $58,750 per BTC, signaling financial pressure. The sale significantly reduced miners’ Bitcoin reserves and could indicate further liquidation if market conditions don’t improve. Analysts are watching closely to see if this trend continues, especially as profitability tightens.
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Bitcoin Miners Offload $156 Million Worth of BTC Over the Weekend

Ultramining_Eng

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