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…
… Continue Reading at: cointelegraph.com [source]