Bitcoin miners may be participating in selling, which could lead to a decline in the cryptocurrency’s price. On-chain data indicates that miners have been withdrawing coins from their wallets, suggesting a bearish trend. The 14-day rate of change (ROC) of the miner reserve has been negative, indicating a continuous decline. This selling pressure from miners may have contributed to the recent drop in Bitcoin’s price, which is currently trading around $30,000.
AI Sentiment: Negative
