Bitcoin has retreated from $35,000 and there is concern about miner selling pressure potentially limiting price increases, according to a crypto hedge fund. The hedge fund noted that Bitcoin miners are selling off more of their revenues than usual, which could be a warning sign for consolidation. However, the hedge fund predicts that Bitcoin could still reach the $40,000-$45,000 range in the coming weeks as the sell pressure subsides. Despite the pullback, Bitcoin has outperformed US stocks in the past 24 hours. The stock market decline is attributed to a rise in the 10-year Treasury yield and poor earnings results from Google.
AI Sentiment: Positive
