Bitcoin Miners Sell Over $160 Million Worth of Bitcoin During Price Surge
Bitcoin miners have sold 5,492 Bitcoin, worth around $164 million, during the recent crypto rally, indicating a strategic sales approach. The liquidation-to-production ratio for October was 105%, with miners selling not just the month's yield but also dipping into reserves. This trend is not just about capitalizing on the price surge, but also preparing for the upcoming halving event, which will reduce miner rewards by 52.2%. Selling now is a tactical move for miners to strengthen their financial buffer against the expected dip in mining income.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Donald Trump to Meet Bukele at White House: Bitcoin on Mind?
Two Whale Vaults at Risk of Liquidation as ETH Price Declines

Here’s How High Dogecoin Can Reach If BTC Market Cap Hits $500T As Predicted By Michael Saylor
Wasabi Adds Berachain Vaults With Up To 300% Yields
Trending news
MoreCrypto prices
More








