⛏️ Bitcoin miners may be becoming an overlooked source of selling pressure.
Reports suggest miners have sold around 28,000 BTC this year, worth roughly $1.78B.
The interesting part is the economics: if mining one BTC costs around $74K while BTC trades near $63K, some miners may have little choice but to sell.
It’s not the only reason behind the market drop, but it’s definitely a pressure point worth watching. 👀
#bitcoin #BTC #Crypto #Mining #markets
Reports suggest miners have sold around 28,000 BTC this year, worth roughly $1.78B.
The interesting part is the economics: if mining one BTC costs around $74K while BTC trades near $63K, some miners may have little choice but to sell.
It’s not the only reason behind the market drop, but it’s definitely a pressure point worth watching. 👀
#bitcoin #BTC #Crypto #Mining #markets