Accumulate

Artificial Intelligence

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/large-crypto-miners-accumulate-while-small-miners-sell-bitcoin/" data-wpel-link="internal">Large Crypto Miners Accumulate While Small Miners Sell Bitcoin</a><br></p>
<p style="text-align: justify">According to Julio Moreno, head of research at leading crypto analysis firm CryptoQuant, major cryptocurrency miners are currently in accumulation mode. This is in stark contrast to the approach of small crypto miners who have continued to sell since Bitcoin’s (BTC) last, fourth block reward halving event.</p> 
<h2 style="text-align: justify" id="strong-large-miners-accumulate-small-miners-sell-strong"><strong>Large Miners Accumulate, Small Miners Sell</strong></h2> 
<p style="text-align: justify">Moreno noted that large mining <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">companies</a> reported higher reserves and, in some cases, purchased Bitcoin. He added that small crypto miners tend to sell off their BTC holdings.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-375145" src="https://coin-turk.com/wp-content/uploads/2024/07/Bitcoin-Madencileri-scaled.jpeg" alt="" width="2560" height="1440"></p> 
<p style="text-align: justify">As a reminder, crypto mining giant Marathon Digital recently purchased $100 million worth of BTC and announced a “full HODL” strategy. The company plans to hold all the BTC it produces and make additional purchases. This step serves as a significant reference confirming the trend of large crypto miners accumulating Bitcoin.</p> 
<h2 style="text-align: justify" id="strong-some-bitcoin-miners-turn-to-artificial-intelligence-strong"><strong>Some Bitcoin Miners Turn to Artificial Intelligence</strong></h2> 
<p style="text-align: justify">Meanwhile, according to the Financial Times, some Bitcoin miners have turned to <a href="https://futurearticles.co/openai-gpt-4o-vs-anthropic-claude-3-5-who-will-win-the-duel/" target="_blank" rel="noopener" data-wpel-link="exclude">artificial intelligence</a> technology due to a significant drop in profitability. This indicates a major shift in the dynamics of the mining sector. The substantial decline in mining earnings has pushed miners to seek new revenue sources.</p> 
<p style="text-align: justify">At the time of writing, Bitcoin’s price is trading around $66,500 after testing $70,000. The price came under renewed selling pressure, particularly due to the U.S. government’s movement of its BTC holdings on July 29. This situation demonstrates how regulatory pressure and the actions of major players can impact Bitcoin’s price.</p> 
<p style="text-align: justify">As expected, the selling pressure on Bitcoin’s price also affected the <a href="https://en.coin-turk.com/the-impending-june-1st-events-potential-catalysts-for-a-crypto-rally-and-altcoin-explosion/" data-wpel-link="internal">altcoin</a> market. Many altcoins fell sharply after the largest cryptocurrency tested $70,000 and then pulled back.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/large-crypto-miners-accumulate-while-small-miners-sell-bitcoin/" data-wpel-link="internal">Large Crypto Miners Accumulate While Small Miners Sell Bitcoin</a></h5>
<p>The post <a href="https://en.coin-turk.com/large-crypto-miners-accumulate-while-small-miners-sell-bitcoin/" data-wpel-link="internal">Large Crypto Miners Accumulate While Small Miners Sell Bitcoin</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Large Crypto Miners Accumulate While Small Miners Sell Bitcoin

Съдържание

COINTURK NEWS

Други статии, публикувани на 30.07.2024 г.

Fantom Price Nears Key $0.50 Mark

US Government Moves $2 Billion in Bitcoin Amid Controversy

Looking Back at Pi Network’s ‘Pi2Day Challenge’

BlackRock CIO Confirms No Solana ETF Plans in Near Future

Shiba Inu Faces Key Resistance at $0.00002871: Will It Break Through?

Toncoin: Is HODLing TON the way to go for buyers?

Присъединете се към нашия безплатен бюлетин за ежедневни крипто актуализации!