February 12, 2025

Bitcoin Miners Sell $175 Million in BTC Ahead of Halving

Bitcoin miners have actively sold over 5,000 Bitcoins, valued at around $175 million, following the cryptocurrency’s recent surge above $34,000. Analyst Ali notes, “Miners have been selling actively since the flagship crypto climbed above $34,000.” This move is seen as strategic preparation for the upcoming Bitcoin halving, expected to cut block rewards.

Reports suggest miners are offloading more than they mine, sparking curiosity among crypto enthusiasts who speculate on a potential market correction. TheMinerMag data for October reveals Bitcoin’s liquidation-to-production ratio at 105%, a significant increase from the previous three months.

Despite miner selloffs, Bitcoin’s price reached a yearly high of $37,978 on Thursday, maintaining an upward trend. Analysts suggest miners are capitalizing on strategic sales in anticipation of the halving, expected to impact market dynamics.

As of the latest update, Bitcoin trades at $36,847, showing signs of recovery from a retracement after reaching a yearly high. The cryptocurrency sustains a bullish outlook since mid-October, rebounding from support at $26,545.


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