Bitcoin Miners Likely to Sell at Breakeven Point Near $54,000
CryptoNewsTerminal Staff07 Sep, 2024
Bitcoin Miners Likely to Sell at Breakeven Point Near $54,000
On-chain data reveals that 836,000 addresses acquired 402,000 BTC (worth $21 billion) between the price range of $51,113 to $54,303. This implies that many Bitcoin addresses that bought at these price levels may be inclined to sell near the breakeven point of $54,000. This development suggests a potential sell-off in the Bitcoin market as these addresses attempt to recoup their initial investment.
