Bitcoin Miners' Selling Volume Dips to 2023 Low as Market Activity Cools

IconCrypto News Terminal25 Apr, 2024

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Bitcoin Miners' Selling Volume Dips to 2023 Low as Market Activity Cools

Bitcoin miners, a significant force in the cryptocurrency market, have reduced their selling activity to levels not seen since November last year. According to recent data from Glassnode, miners sold approximately 1,300 BTC over the past 30 days, marking the lowest monthly selling volume in nearly a year. This decline in selling pressure from miners could indicate a shift in market sentiment, as miners are typically inclined to sell their BTC holdings to cover operational costs and generate revenue. However, with the recent slowdown in selling activity, it suggests that miners may be more optimistic about the long-term value of Bitcoin and are willing to hold onto their assets. Previously on 25 April 2024: Bitcoin miners have been consistently selling their holdings over the past few months, but the pace has slowed down. According to data from Glassnode, miners sold 1,300 BTC over the past 30 days, the lowest level since November last year.

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