Bitcoin (BTC) miners face increasing sell pressure as the flagship digital asset’s value continues to struggle below the $16,000 mark.
Capriole Fund founder Charles Edwards on Nov. 21 said miners were selling at the most aggressive rate in almost seven years, with a 400% increase in selling pressure over the last three weeks. He added that several Bitcoin miners could go out of business if the digital asset’s value does not rise soon.
It’s a Bitcoin miner bloodbath.
Most aggressive miner selling in almost 7 years now.Up 400% in just 3 weeks!
If price doesn’t go up soon, we are going to see a lot of Bitcoin miners out of business. pic.twitter.com/4ePh0TIPmZ
— Charles Edwards (@caprioleio) November 21, 2022
Miners face a precarious situation
The current market condition presents a difficult position for miners amid rising energy costs, high mining hashrate and declining BTC value.
According to Coinwarz data, Bitcoin’s mining hashrate currently stands at 243.64 EH/s which is a st
We współpracy z: https://cryptoslate.com/bitcoin-miners-selling-aggressively-as-crypto-market-continues-to-struggle/
