Miner MARA sold 13,597 BTC for about 1.1 billion dollars in six weeks, while Michael Saylor bought another 1,036 BTC on Monday. ⚠️
FXStreet reports MARA Holdings disclosed it sold 13,597 BTC for around 1.1 billion dollars over the past six weeks, adding fresh supply on top of the ETF outflows, while StocksBreaking reports Strategy bought 1,036 BTC on Monday, taking total holdings to 850,364 BTC. 📊 The contrast is the whole story of this market in one line, because miners sell to cover costs and lock in prices, while Strategy buys through weakness as a long term holder, and right now the selling side is bigger, with ETF outflows at 1.48 billion dollars in November alone. My reading is that traders should watch who is winning this tug of war, because miner supply plus ETF redemptions is a heavy weight on price, and only a turn in ETF flows or a stop in miner selling lets a real bounce hold.
Who wins this tug of war: the miners selling, or Saylor buying? 🤔
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FXStreet reports MARA Holdings disclosed it sold 13,597 BTC for around 1.1 billion dollars over the past six weeks, adding fresh supply on top of the ETF outflows, while StocksBreaking reports Strategy bought 1,036 BTC on Monday, taking total holdings to 850,364 BTC. 📊 The contrast is the whole story of this market in one line, because miners sell to cover costs and lock in prices, while Strategy buys through weakness as a long term holder, and right now the selling side is bigger, with ETF outflows at 1.48 billion dollars in November alone. My reading is that traders should watch who is winning this tug of war, because miner supply plus ETF redemptions is a heavy weight on price, and only a turn in ETF flows or a stop in miner selling lets a real bounce hold.
Who wins this tug of war: the miners selling, or Saylor buying? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #BitcoinNews
