Amid the excitement encompassing the approval of Bitcoin Spot Exchange-Traded Funds (ETFs), BTC miners have been spotted carrying out an aggressive selling spree leaving the community to ponder on the impact of the sell-off.
Bitcoin Miners Engage In Selling Spree
Well-known cryptocurrency analyst Ali Martinez shared this information with the community on the social media network X (formerly Twitter), noting a “substantial increase in selling activity” from Bitcoin miners lately.
According to data shared by Ali, miners have sold about 10,600 Bitcoin in less than 24 hours. This was valued at an estimated $455.8 million as of the time of the report.
The recent increase in sales by the Bitcoin miners indicates a responsive market. In addition, the sizable amount involved signifies an impactful development in the cryptocurrency landscape.
Several reasons could be traced back to the massive selling spree by these miners. One potential reason could be attributed to the decline in the Bitc
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