Breaking: Bitcoin Miners Dump $129 Million in a Day, Reserves Hit Lowest Point Since May!
In a dramatic turn of events, Bitcoin miners have unleashed a massive sell-off, shedding a whopping $129 million worth of BTC within the last 24 hours. This rapid move has pushed miner reserves to their lowest levels since May, signaling intensified selling pressure in the crypto space.
According to CryptoQuant data, the reserves of miners, reflecting the BTC stashed in their wallets, have dwindled to a mere 1.832 million BTC. This downward spiral, initiated in late October, has gained momentum throughout December, creating a sharp contrast to the 1.845 million BTC held by miners in October.
In a post on X, AliCharts highlighted this significant development, shedding light on miners liquidating 3,000 BTC in the last 24 hours alone, equivalent to a staggering $129 million. As Bitcoin's current trading price hovers around $42,891, the market experiences heightened volatility after reaching yesterday's peak at $43,710.
Source
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