- Hashrate Index studies how significantly BTC miners impact Bitcoin’s value.
- The blog states that miners only hold 1% to 4% BTC of the total circulating supply.
- The selling pressure of 100% of miners’ production amounts to 0.2% of bitcoin’s spot volume.
Luxor Technologies’ Hashrate Index which provides crypto miners with high-quality mining insights, published a blog analysing how Bitcoin miners contribute to the market selling pressure.
The blog initially establishes that miners consistently deliver some selling pressure on the market since they are the net sellers of Bitcoin. Moreover, the strength of the selling pressure changes depending on if and when the miners sell during a bear market.
BTC miners’ “hodl-at-any-cost” treasury strategy symbolizes miners’ tendency to sell the leading cryptocurrency during bull markets, at the price of selling the coin at a decreased value during bear markets.
While it is assumed that miners selling pressure during bear markets negatively influence the Bitcoin price, analysts haven’t yet verified how impactful the pressure truly is. Many members of the crypto community thi ...
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