Bitcoin has surged to a record-breaking all-time high, courtesy of the strategic moves made by pioneer BTC miners within the crypto space. While the incredible uptick has caused excitement among the broader crypto community, it has not been without its fluctuations.
Miners Fueled BTC ATH Rally
On Tuesday, March 5, 2024, BTC hit a new all-time high, soaring to $69,200, and surpassing its previous peak in November 2021 when the price of the cryptocurrency traded at around $69,000. This unprecedented price surge has been attributed to the strategic efforts and patience of early Bitcoin miners who recently sold off a considerable portion of their BTC holdings during this all-time high.
Following Bitcoin’s rally to $69,200, data from CryptoQuant revealed that addresses over a decade old, identified as early Bitcoin miners, had initiated a transfer of 1,000 BTC worth about $67 million at the time, to the crypto exchange Coinbase. This large-scale sell-off indicated that th
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