Bitcoin
Bitcoin (BTC)
$95,406.00 -0.33971
Bitcoin price
Ethereum
Ethereum (ETH)
$3,346.64 0.83567
Ethereum price
BNB
BNB (BNB)
$679.64 3.47058
BNB price
Solana
Solana (SOL)
$184.11 1.31333
Solana price
XRP
XRP (XRP)
$2.20 -1.06568
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000218 0.9292
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000179 1.73912
Pepe price
Bonk
Bonk (BONK)
$0.0000314 0.00444
Bonk price
dogwifhat
dogwifhat (WIF)
$1.90 -0.708
dogwifhat price
Popcat
Popcat (POPCAT)
$0.740042 -2.88468
Popcat price
Bitcoin
Bitcoin (BTC)
$95,406.00 -0.33971
Bitcoin price
Ethereum
Ethereum (ETH)
$3,346.64 0.83567
Ethereum price
BNB
BNB (BNB)
$679.64 3.47058
BNB price
Solana
Solana (SOL)
$184.11 1.31333
Solana price
XRP
XRP (XRP)
$2.20 -1.06568
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000218 0.9292
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000179 1.73912
Pepe price
Bonk
Bonk (BONK)
$0.0000314 0.00444
Bonk price
dogwifhat
dogwifhat (WIF)
$1.90 -0.708
dogwifhat price
Popcat
Popcat (POPCAT)
$0.740042 -2.88468
Popcat price
Bitcoin
Bitcoin (BTC)
$95,406.00 -0.33971
Bitcoin price
Ethereum
Ethereum (ETH)
$3,346.64 0.83567
Ethereum price
BNB
BNB (BNB)
$679.64 3.47058
BNB price
Solana
Solana (SOL)
$184.11 1.31333
Solana price
XRP
XRP (XRP)
$2.20 -1.06568
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000218 0.9292
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000179 1.73912
Pepe price
Bonk
Bonk (BONK)
$0.0000314 0.00444
Bonk price
dogwifhat
dogwifhat (WIF)
$1.90 -0.708
dogwifhat price
Popcat
Popcat (POPCAT)
$0.740042 -2.88468
Popcat price
Bitcoin
Bitcoin (BTC)
$95,406.00 -0.33971
Bitcoin price
Ethereum
Ethereum (ETH)
$3,346.64 0.83567
Ethereum price
BNB
BNB (BNB)
$679.64 3.47058
BNB price
Solana
Solana (SOL)
$184.11 1.31333
Solana price
XRP
XRP (XRP)
$2.20 -1.06568
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000218 0.9292
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000179 1.73912
Pepe price
Bonk
Bonk (BONK)
$0.0000314 0.00444
Bonk price
dogwifhat
dogwifhat (WIF)
$1.90 -0.708
dogwifhat price
Popcat
Popcat (POPCAT)
$0.740042 -2.88468
Popcat price

Bitcoin bullish momentum to persist despite miners sell-off, CryptoQuant CEO says

bitcoin-bullish-momentum-to-persist-despite-miners-sell-off-cryptoquant-ceo-says
Edited by
News
Bitcoin bullish momentum to persist despite miners sell-off, CryptoQuant CEO says

Miners have seemingly started offloading their Bitcoin holdings as the fourth halving approaches, CryptoQuant notes.

As Bitcoin (BTC) maintains its bull run and the fourth halving nears, miners have started selling their holdings in the cryptocurrency, monetizing their business operations to buy more equipment for profitability. In an X post on Mar. 13, CryptoQuant CEO Ki Young Ju published a graph of miners’ selling activity since 2012, noting that this time “bull market would continue unless ETF [exchange-traded fund] inflow slows down.”

In a follow-up post, the CryptoQuant CEO noted that U.S. mining companies are not the main Bitcoin sellers so far, suggesting that the top sellers “are likely offshore or older miners.”

Bitcoin miners often sell their holdings before halvings to secure profits, mitigate price volatility risks, diversify their assets, and reinvest in mining infrastructure, leading to increased market volatility leading up to and following halvings.

Analysts, however, are confident that even the increased selling activity by miners is unlikely to impede Bitcoin’s upward momentum, given the substantial inflow of fresh capital through spot ETFs. Coinbase Research analysts have suggested that the current price surge “is only the beginning of a longer bull run,” adding that “multi-billion dollar net inflows [into spot Bitcoin ETFs] in just two months have irrevocably altered the landscape.”

Bitcoin bullish momentum to persist despite miners sell-off, CryptoQuant CEO says - 1
Bitcoin miners’ stocks | Source: Hashrate Index

Despite Bitcoin miners achieving record daily revenues of $78.6 million, surpassing the previous peak set during the 2021 bull market, the performance of public mining companies paints a different picture.

Hashrate Index data reveals that out of the 26 public Bitcoin miners, only three have posted positive returns year-to-date: CleanSpark (CLSK) with a 51.5% gain, Investview (INVU) with a 25.7% increase, and Northern Data (NB2.DEX) with a 7.52% rise. As crypto.news reported earlier, Bitcoin’s fourth halving is anticipated to arrive in mid-April this year, cutting the block reward from 6.25 BTC to 3.125 BTC.