According to data from CryptoQuant, miners appear to be selling large amounts of Bitcoin (BTC). Historically, heightened selling pressure from miners marked a local top and led to sharp, prolonged corrections.

BTC/USDT 1-hour chart. Source: TradingView.comWhy are Bitcoin miners selling?

In May 2020, on-chain analyst Willy Woo said that there would be two sources of unmatched selling pressure in the market after the block reward halving.

Woo pinpointed Bitcoin miners and cryptocurrency…

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