Bitcoin News
By Dan Saada
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Miner Selling Pressure on Bitcoin. According to data from CryptoQuant, Bitcoin miners have realized over $27.
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What Does This Mean for Bitcoin’s Price?. Despite the significant liquidation by miners, Bitcoin still retains a large amount of miner-held…
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Key Price Levels to Watch. Traders should closely monitor Bitcoin’s price action around critical support and resistance levels.
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Can Bitcoin Maintain Its Momentum?. The next move for Bitcoin largely depends on how the market reacts to the ongoing miner selling…
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Conclusion. Bitcoin’s price trajectory in the coming days will be heavily influenced by miner activity and its…
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Bitcoin miners have recently liquidated over $27 million in profits, causing a stir in the market as BTC faces key resistance around $87,000.
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According to data from CryptoQuant, Bitcoin miners have realized over $27.2 million in profits while Bitcoin traded around the $83,000-$84,000 range.
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Miner selling pressure is a common occurrence when Bitcoin approaches key price levels, and the current scenario is no different.
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Bitcoin was trading at approximately $83,289 at press time, with the 50-day moving average positioned at $87,400 and the 200-day moving average near $95,916.
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The 200-day moving average at $95,916 is another key level that traders are watching closely.
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If Bitcoin can hold its ground and absorb the selling pressure from miners, it may be able to sustain its momentum and push past key resistance levels.
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Bitcoin’s price trajectory in the coming days will be heavily influenced by miner activity and its ability to break through key resistance levels.
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