As Bitcoin miners move to Kaspa [KAS], will BTC fall even more?

Due to this, many Bitcoin miners have decided to diversify their revenue streams and offset a decline in Bitcoin production.

MarathonDH has been grappling with lower Bitcoin production since December 2023, which culminated in the company selling 1,000 Bitcoin from its reserves in early June. If other major miners follow suit and start mining Kaspa to diversify, an increase in selling pressure on the Bitcoin market could occur, potentially driving down the price in the short term.A dormant miner address, inactive for a staggering 14 years, woke up and transferred 50 BTC to aThis miner earned these 50 BTC by mining on the 14th of July 2010, a time when the price of each Bitcoin was a mere $0.05.

If miners fail to see a surge in revenue they would be forced to sell their holdings to remain profitable, which can cause further damage to BTC’s price.Even though the state of the miners is not looking positive, the interest in BTC ETF’s could help the price of Bitcoin sustain under immense selling pressure.

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