While the effects of the fourth halving slowly set in, Bitcoin miners appear to be selling less and holding onto more BTC after the recent block reward reduction.by CryptoQuant, the Miner Position Index and Puell Multiple, which track miner selling activity and profitability, respectively, are indicating a significant reduction in miner sell pressure post-halving, with 14 consecutive days of consolidation and accumulation.
As spot Bitcoin ETF flows increase and the likelihood of a rate cut in Q4 rises, miners are likely accumulating in preparation for a profitable sell-off in the coming months.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CoinDesk - 🏆 291. / 63 Read more »
Bitcoin miner stocks drop on ‘unsubstantiated’ post-halving profit fears: AnalystBitcoin mining shares have dropped this year as Blockware Solutions’ Mitchell Askew says investor concerns are growing over their post-halving profitability.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »