Bitcoin miners sell over 3,000 BTC, signaling a potential consolidation phase as Bitcoin holds strong above $90K amid robust network health.
However, recent on-chain data shows that bitcoin miners have sold over 3,000 BTC in the past 48 hours, potentially signaling a short-term pullback.
Such behavior is common in strong bull markets and suggests that the market may be gearing up for a brief pause or a price correction in the near term.Bitcoin’s strong network health was also proven with hashrate levels reaching new highs. However, after such a strong rally, the market seems to be entering a consolidation phase, as profit-taking from both investors and miners gains momentum.Bitcoin’s current consolidation phase above $90,000 is a natural and beneficial step following its explosive rally.
Key support levels, particularly in the $88,000-$90,000 range, will be critical in maintaining the bullish structure.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin attacks $70K zone: Is a new BTC ATH on the horizon?Bitcoin is on the verge of breaking above the $70K resistance level but has faced instant rejection as it was trading at $67K as of press time.
Read more »
Bitcoin mining difficulty hits ATH: Here’s how it could impact BTC pricesBitcoin mining difficulty has surged to an all-time high as the network's hashrate increases, impacting miner profitability.
Read more »
Bitcoin whales surge to 2021 levels – Will this lead BTC to a new ATH?Bitcoin whales have outpaced their retail counterparts as their holdings increases to 4 million coins. Will it trigger a new ATH?
Read more »
Bitcoin’s bull run continues: $75k options interest signals new ATH in near futureThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Bitcoin, Ethereum options expire: Mixed sentiments as BTC nears ATHOptions expiry on the 25th of October shows bullish Bitcoin sentiment as whales rise, while Ethereum lags near lows.
Read more »
Bitcoin’s ATH of $93K sparks big moves on Binance – Are investors cashing out?Bitcoin reached a new all-time high but faced a slight pullback, with major Binance withdrawals suggesting long-term sentiment.
Read more »