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
Post meme-ism: Solana’s quiet pivot to utility
Solana may be in “recomposition” mode, as new protocols put usefulness ahead of mere virality
US equities, cryptocurrencies fall on Trump’s sweeping global tariffs
President Donald Trump announced a 10% levy on almost all goods and additional tariffs on so-called “worst offending” countries
Fidelity Introduces Crypto IRA With Bitcoin, Ethereum, Litecoin
Fidelity’s crypto IRA has no fees and gives investors the option to set it up as a Roth IRA, traditional IRA, or rollover IRA.
Circle files for IPO
Trending news
MoreCrypto prices
More
