Here's Who's Selling Bitcoin (BTC) Right Now, Pushing Price Down

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Bitcoin to $70,000 Imminent? Solana to Pump Ethereum: Here's How, Cardano Bounces Around $0.3, But for How Long?The lengthy period of miner capitulation is also clarified by Willy Woo's analysis. As indicated by the Bitcoin Hash Ribbons, which show periods of stress and recovery for miners, we are currently experiencing a record-breaking amount of miner capitulation. Woo says that when the hash rate starts to rise again and weak miners leave, Bitcoin usually bounces back.

In a similar vein, the volume of big USD transactions has drastically decreased, suggesting that major players are scaling back or selling their holdings. The Bulls and Bears indicator which indicates a preponderance of bearish addresses highlights the bearish sentiment even more. It appears that more investors are selling rather than buying as the gap between

The combination of these data suggests that there are multiple sources of selling pressure. With enormous amounts of Bitcoin being sold on the platform, Coinbase seems to be a major driver. Furthermore, as miners sell off their holdings to pay for operating expenses, the extended miner capitulation phase intensifies the selling pressure.Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future.

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