Miners are Buying BTC: Analysts Predict Long-Term Bullish Market

IconCryptoNewsTerminal Staff29 Jul, 2024

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Miners are Buying BTC: Analysts Predict Long-Term Bullish Market

Miners are accumulating Bitcoin (BTC), according to analysts, signaling a long-term bullish market. Valentin Fournier, of BRN, observes that "miners are net buyers of BTC," and interprets this as evidence of confidence in BTC's long-term value. Fournier adds that BTC is well-positioned for new all-time highs due to support from former US President Donald Trump and reduced selling pressure from Mt. Gox and Grayscale.