Bitcoin Miner Selloff Poses “Negligible Impact”, Quant Argues
Summary
Bitcoin miners have been selling recently, leading to a decline in their reserve by 12,755 BTC. Despite concerns, an analyst argues that this selloff should have a negligible impact on the market, as the total reserve is still substantial. Inflows and outflows of BTC by miners have balanced out, contributing to the relatively small net decrease in the reserve. Bitcoin's price has experienced a setback, slipping back towards $42,500 after briefly surpassing $43,000.
