Bitcoin has faced a significant amount of selling pressure over the past week, according to the latest on-chain data. Expectedly, this bearish pressure has had a notable impact on the price of the premier cryptocurrency. According to data from CoinGecko, the value of Bitcoin has declined by nearly 5% in the past seven days. On Friday, June 14th, the BTC price fell to around the $65,000 level — its lowest level in nearly a month. Bitcoin Miners Offload Over 1,200 BTC In One Day In a recent post on the X platform, crypto analyst Ali Martinez revealed that Bitcoin miners have been active in the open market in recent days. Specifically, these network entities have been trimming their BTC holdings, and selling their assets for profit. Related Reading: Quiet Summer Ahead For Bitcoin, But Ethereum Holds Potential for Surprise — QCP Capital Martinez mentioned in his post that the Bitcoin miners offloaded more than 1,200 BTC (worth roughly $80 million) in a single day. According to the crypto pundit, this increased selling activity by the miners might have played a significant role in t ..
Support the originator by clicking the read the rest link below.
