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Tom Dunleavy, an analyst from the research cryptocurrency company Messari, believes that miners who immediately sell mined bitcoins have a bad effect on the price of BTC.
Tom Dunleavy reported that public mining companies sold 40,300 of the 40,700 bitcoins mined in 2022. Among them are such large miners as Core Scientific, Argo, Marathon, Iris Energy, Bitfarms and Riots.
Messari
Most of all, the reserves of the miners' digital currency decreased in the second half of November, as the industry suffered significantly after the default of the FTX crypto exchange. According to Dunleavy, miners who immediately sell the extracted BTC have a negative impact on the price of the first cryptocurrency.
The former CEO of the BitMEX exchange, Arthur Hayes, said that the influence of bitcoin sellers on its price is insignificant. Even if miners sell all the extracted cryptocurrency, it will not greatly affect its price.
According to CoinMarketCap, BTC trading volume on December 26 amounted to about $12 billion with an outflow of $15.3 million, which is only 0.13% of the total trading volume.
Previously on Bits.Media published a material about how the crypto winter and the fall in the bitcoin exchange rate affected miners and what opportunities it opened up for them.
