Boutique Media & consulting group

BTC
$89508
ETH
$3029
BNB
$613
XRP
$0.89
ADA
$0.66

Will Bitcoin Miners Continue to Sell BTC After the 2024 Halving?

News | Blockchain | by Max Cosmo | August 7, 2024 |
683
bitcoinBTCGlassnodehalvingMinersnet positions

According to data analysis from Glassnode, Bitcoin (BTC) miners are likely to continue selling their BTC holdings even after the 2024 halving.

Miners’ net positions remain in the red, indicating a tendency to sell their Bitcoin.

Will the halving change their holding policies due to worsening profits?

Since the halving in April 2024, Bitcoin prices have fluctuated between $50,000 and $70,000.

Over the past five years, Bitcoin price increases have often coincided with miners holding more BTC, but 2024 is different, with selling continuing.

Analysts suggest that this selling is a reaction to the pre-halving price surge and a means to offset operational costs due to reduced block rewards post-halving. If this trend continues, Bitcoin prices might face further selling pressure, raising concerns among market participants.

Sentiment: Neutral

Leave a reply

Leave a Reply

Film News

The World of Web3 – A New Film by #TheFutureisNowFilm Series Creates Mass Adoption for Web3

This article originally appeared on the front page of Live Bitcoin News on June 2nd 2023. Have you ever wondered what it’s […]

by Miguel Francis-Santiago

June 12, 2023

Brock Pierce Gives His COVID-19 Global Awakening Take on The Future is Now Digest “Bear Markets Bear The Fruits”

The Future is Now Media Group have launched a YouTube show called The Future is Now Digest, hosted by Miguel Francis-Santiago. Together […]

by Katerina Futur

April 30, 2020

The Rise of The New World with AKON at AIBC Summit 2019 Winter Edition – SEC, Libra, TON & Plethora of Innovators Shaping The Future

Our roving crypto documentary The Future is Now travels to Malta for the 3rd time! Episode 10 “The Rise of The New […]

by Andrew Sarkar

March 7, 2020

The Future is Now Heads for Hong Kong’s Chain2020 – First Stop of The New Year!

PRESS RELEASE — 10,000 participants are expected to join CHAIN2020 in Hong Kong on January 15, which aims to become one of […]

by Andrew Sarkar

December 27, 2019

Market Analysis

Possible Pullback to $78,777 After Reaching New All-Time High
November 8, 2024
XRP Long-Term Investors Questioning Breakout at $0.51
November 4, 2024
AI’s Bitcoin Revolution
November 1, 2024
Tether Reports Record $2.5 Billion Profit in Q3, $7.7 Billion Total in 9 Months
October 31, 2024
BNB Faces Strong Resistance at $600 Mark
October 30, 2024

Editor's choice

Layer 2 Solutions to Enhance Blockchain Applications in the Metaverse
November 14, 2024
SEC Chairman Gary Gensler Hints at Possible Resignation, XRP Price Surges to $0.85
November 13, 2024
Binance CEO: Bitcoin Bull Run Not Over, But Beware of Greed
November 12, 2024
Report Shows Lack of Interest in Crypto Among ETF Investors
November 11, 2024
Possible Pullback to $78,777 After Reaching New All-Time High
November 8, 2024

Latest news

Bitcoin Reaches New $75K High as Trump Leads Early in Election
November 6, 2024
Ethereum Profitability Analysis: Current Address Performance at $2,458
November 5, 2024
XRP Long-Term Investors Questioning Breakout at $0.51
November 4, 2024
AI’s Bitcoin Revolution
November 1, 2024
Tether Reports Record $2.5 Billion Profit in Q3, $7.7 Billion Total in 9 Months
October 31, 2024

See also

Bitcoin Reaches New $75K High as Trump Leads Early in Election

Bitcoin surged past $73,800 for the first time since March 13, briefly hitting $75,000, as early election results showed Donald Trump in […]

by Max Cosmo

November 6, 2024

Ethereum Profitability Analysis: Current Address Performance at $2,458

With Ethereum (ETH) hovering around $2,458.51, an analysis of address profitability reveals that the majority of holders are in a profitable state. […]

by Max Cosmo

November 5, 2024

XRP Long-Term Investors Questioning Breakout at $0.51

XRP recently fell below the key support level of $0.51, indicating short-term bearish momentum but leaving room for recovery as market conditions […]

by Max Cosmo

November 4, 2024