Heavy sale of Bitcoin by miners; The possibility of a further fall in the price of BTC became stronger!

Bitcoin (BTC) experienced several challenges in the last week. According to market data, the price of this digital currency decreased by 2.30% in 24 hours and reached $27,080. This price decline is attributed to several factors, including conflicts in the Middle East and global macroeconomic conditions. Meanwhile, reports suggest that miners have sold more than 20,000 bitcoins in the past week, raising concerns about the cryptocurrency’s future trajectory. Miners often sell some of their bitcoins to cover operating costs. But the scale of their recent sales is remarkable.

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A massive influx of Bitcoin into the market may put downward pressure on prices. It should be noted that the increase in miner activity comes after Bitcoin miners made record profits in September. Reputable mining companies such as CleanSpark, Riot Blockchain, and Marathon Digital Holdings reported impressive results for the past month. They stated the need to expand and invest in renewable energy sources, but also face challenges in their operations.
Although miners’ activities may affect price volatility in the short term, some believe that this selling pressure will ease over time and may provide the conditions for a bullish return.