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Bitcoin Miners Sell Reserves Ahead of Fourth Halving Event

27/01 02:58

According to CryptoPotato, a significant shift is occurring in the Bitcoin mining landscape as the fourth halving event approaches, set to reduce the supply subsidy of BTC from 6.25 BTC for every block to 3.125 BTC per one. With approximately just 82 days left, Bitcoin miners appear to be selling their reserves, according to the latest analysis by CryptoQuant. A notable reduction was observed in the Bitcoin reserves held by miners, coupled with a surge in BTC transfers to exchanges. Currently, the movement of Bitcoin from miners to exchanges is three times greater than the opposite flow. This pattern indicates a notable selling pressure originating from the mining community. The fact that the miners selling their reserves is being deemed as a strategic move by CryptoQuant’s analysis. Traditionally, miners tend to secure profits in anticipation of a halving event to cover operational expenses and prepare for future investments. The upcoming fourth halving, scheduled for April in the current cycle, is anticipated to follow a pattern observed in previous cycles. In last April, Bitcoin climbed all the way to $31,000. This historical trend suggests a high probability of a substantial surge post the fourth halving, potentially extending until April-August 2025 and surpassing the previous peak of $69,000. Notably, a key takeaway from Bitcoin’s price behavior indicates a consistent pattern around each halving. The leading crypto tends to exhibit a gradual ascent about a year before the halving, sustaining this upward trajectory for 12-16 months post-halving, ultimately reaching new highs before entering a bearish phase.

Bullish

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