​​BTC: $32,649.77 (-9.35%) ETH: $2,475.09 (-10.23%) Crypto m | Best Crypto Traders Official

​​BTC: $32,649.77 (-9.35%)
ETH: $2,475.09 (-10.23%)

Crypto markets tumble after miners unload 5,000 BTC in one week

With Bitcoin’s price consistently trending below its 200-day moving averages and heavy selling identified among miners, some analysts are bracing for further bearish momentum.

The crypto markets are against dropping, with Bitcoin crashing below $33,000 for the first time since May 23 as Ethereum similarly broke below support at $2,500.

The downward momentum comes as bearish indicators continue to stack up for Bitcoin, with popular analyst William Clemente III identifying that miners sold more than 5,000 BTC over the past week — worth roughly $164 million at current prices.

Crypto author Timothy Peterson also highlighted that BTC’s price has remained below its 200-day simple moving average (SMA) for 17 days consecutively. ”This metric has *always* marked the end of a bull run and the start of a bear market,” he asserted.

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