Bitcoin miners could dump $5B in BTC after halving: 10x Research

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

Finance Finance Headlines News

Bitcoin miners are likely to start selling their holdings after the halving resulting in more pain for altcoins and the crypto markets trading sideways for up to six months.

) from miners in the months following the halving as in previous cycles, according to a market analyst.according to calculations by the head of research at 10x Research, Markus Thielen in a recent analyst note.

Thielen said that the same could happen again with crypto markets potentially facing “a significant challenge in a six-month ‘summer’ lull.” This year, the halving will occur around April 20, just six days away, so markets may not see any significant upward trajectory until around October if history rhymes.Additionally, miners tend to stock up on BTC, “leading to a supply/demand imbalance and a subsequent rally in Bitcoin prices,” leading up to the halving, he said.with BTC prices surging 74% in 2024 to reach an all-time high of $73,734 on March 14 before correcting to below $63,000 in mid-April.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in FİNANCE

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.

Bitcoin Correction May Continue if ETF Inflows Disappoint in Next Few Days: 10x ResearchKrisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.
Source: CoinDesk - 🏆 291. / 63 Read more »