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Ali Martinez rings the alarm: Bitcoin miners rushed to a massive sale of crypto reserves
Bitcoin miners Actively Sold their crypto assets
According to the well-known cryptanalyst Ali Martinez, bitcoin miners have sold a significant number of crypto assets in the last 24 hours. It should be noted that referring to the Crypto Quant analytical platform, Martinez clarified that 10,600 BTC were sold for a total amount of approximately $456 million.
Such selling pressure from sellers of digital currencies is especially noticeable on leading cryptocurrency exchanges, where miners seek to consolidate profits against the background of a downward trend in the market.
The bitcoin market has been facing a correction since the beginning of 2024 and has already experienced two notable price drops. The first significant decrease occurred on January 3, when the capitalization of BTC decreased by an impressive $ 60 billion in just one day. The next collapse followed shortly after the launch of the bitcoin exchange-traded fund (EFT), when the price of bitcoin suddenly collapsed from testing the $49,000 level to around $42,000.
On the charts for January 17, it can be observed that the largest cryptocurrency by capitalization was trading for about $42,469. Over the past 24 hours, the value of BTC has decreased by 1.22%. If you look at the weekly figures, the loss in market value is about 5%.
Information from CryptoSlate analysts indicates that in the first ten days of January, so-called short-term investors sold approximately 111,000 bitcoins, which is equivalent to an amount close to $ 5 billion.
Such an active implementation of crypto assets by miners may be related to the desire to reduce risks in an unstable market, as well as the need for liquidity to cover operating costs and possible investments in upgrading mining equipment.
