Bitcoin

In a surprising turn of events, the Bitcoin market is experiencing a significant decrease in activity as short-term holders and miners actively sell off their reserves. The market, known for its volatility, appears to be &#34;stuck&#34; in a narrow range, according to on-chain data analyzed by CryptoQuant.Notably, CryptoQuant, a renowned analytic firm, recently shared insightful data about the current Bitcoin market trends on Twitter:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2defba3ddb1f4f2293e813dad18f223c.png" />Since April of this year, the supply held by short-term holders, known for their frequent trading activity, has steadily decreased. This group has been actively selling its Bitcoin reserves, exerting considerable pressure on the market. The sudden decrease in their holdings has raised eyebrows among investors and traders, signaling a potential shift in market sentiment.At the same time, miners, who play a crucial role in validating transactions and securing the Bitcoin network, have also been selling off their Bitcoin reserves. This trend is not unexpected, as miners often require liquidity to invest in new equipment. The heightened sales are also connected to the upcoming halving event, where the block reward for miners is reduced. By offloading their holdings, miners seek to manage their resources effectively in anticipation of the reduced rewards.The Volatility Index 1Y, which assesses price volatility, fund inflows and outflows, and the net taker ratio (buyer-seller ratio), indicates a significant decrease in market activity. Starting from April, this index has experienced a substantial decline, signaling a decrease in market engagement across multiple aspects.Read full article at <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">C</a><a href="https://cryptotale.org/btc-market-faces-pressure-as-short-term-holders-and-miners-sell-off-reserves/" rel="noopener noreferrer nofollow">ryptoTale.</a>

BTC Market Faces Pressure as Short-Term Holders and Miners Sell Off Reserves

CryptoTale

Autres articles publiés le 18 juil. 2023

What’s Next for Polygon (MATIC) Coin? When will it be $1?

Crypto Bulls Seek to Expand Gains in the First Half of the Year

LINK Reaching $6-9 Is an Opportunity of a Lifetime: Analyst

Approaching the End in Litecoin! Rise can be Experienced with Halving!

Chainlink (LINK) Gains Momentum and Eyes Breakout Amidst Positive Fundamentals

Game Launch Boosts Sui Network's Transactions and Active Addresses

Join our free newsletter for daily crypto updates!