Bitcoin

Notable

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/major-miners-buy-small-miners-sell" data-wpel-link="internal" rel="noopener noreferrer nofollow">Major Miners Buy, Small Miners Sell</a><br></p>
<p style="text-align: justify">Large cryptocurrency miners are currently in an accumulation phase, as indicated by Julio Moreno, the head of research at CryptoQuant. This trend starkly contrasts with the behavior of smaller miners, who have been selling their <a href="https://en.bitcoinhaber.net/bitcoins-market-trajectory-analyst-kevin-svensons-optimistic-view-despite-challenges" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> holdings since the last block reward halving event.</p>
<h2 id="why-are-large-miners-accumulating">Why Are Large Miners Accumulating?</h2>
<p style="text-align: justify">Moreno highlighted that leading mining <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">companies</a> have reported increased reserves and some have even made significant Bitcoin purchases. For instance, Marathon Digital recently acquired $100 million worth of Bitcoin and revealed plans to hold all their mined BTC, a strategy known as “full HODL”. This move underlines the growing trend of large miners accumulating Bitcoin.</p>
<h2 id="what-drives-small-miners-to-sell">What Drives Small Miners to Sell?</h2>
<p style="text-align: justify">Conversely, small miners have been liquidating their Bitcoin assets, likely due to economic pressures. The Financial Times has reported that a substantial drop in profitability has caused some Bitcoin miners to adopt <a href="https://futurearticles.co/openai-gpt-4o-vs-anthropic-claude-3-5-who-will-win-the-duel/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">artificial intelligence</a> technology to find alternative revenue streams. This diversification indicates a significant shift in the mining sector’s landscape.</p>
<p style="text-align: justify">At the time of this report, Bitcoin’s price is approximately $66,500, having recently tested the $70,000 mark. The price has faced renewed selling pressure, partially due to the U.S. government’s movement of its BTC holdings on July 29. This situation exemplifies how regulatory actions and the behavior of major market players can influence Bitcoin’s price.</p>
<h2 id="key-insights-for-miners-and-investors">Key Insights for Miners and Investors</h2>
<p style="text-align: justify"><strong>Notable Trends in the Market:</strong></p>
<ul>
 <li>Large miners are increasingly focused on accumulating Bitcoin.</li>
 <li>Smaller miners are more likely to sell their holdings due to economic challenges.</li>
 <li>Adoption of artificial intelligence by miners is on the rise, driven by a need to diversify revenue sources.</li>
 <li>Regulatory actions and major market player movements significantly impact Bitcoin’s price.</li>
</ul>
<p style="text-align: justify">As anticipated, the selling pressure on Bitcoin’s price also affected the altcoin market. Several altcoins experienced sharp declines after Bitcoin tested the $70,000 threshold and then retreated.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/major-miners-buy-small-miners-sell" data-wpel-link="internal" rel="noopener noreferrer nofollow">Major Miners Buy, Small Miners Sell</a></h5>

Major Miners Buy, Small Miners Sell

Table of Contents

BH NEWS

Другие статьи, опубликованные 30 июл. 2024 г.

Breaking: US SEC Amends Binance Lawsuit, No Longer Consider Solana As Security

Solana on Verge of $200? Ethereum Smashes Resistance, XRP Set for $1 Breakout

This New GambleFi Protocol Has Raised More Than $1.5 Million, Why Are MATIC And ETH Holders Divin...

Andrew Left Pleads Not Guilty to Securities Fraud Charges

Pemerintah AS Gerakkan US$2 Milyar Bitcoin, Pasar Panik!

Slovenia Leads EU with First Sovereign Digital Bond, Issued via Blockchain Technology

Join our free newsletter for daily crypto updates!