Bitcoin Miners Clearing BTC: Two Factors Drive BTC Sale

Charles Edwards, founder of Capriole Investments, said Bitcoin miners sold off the fastest record since Bitcoin traded at $19,000. He pointed out two possible reasons: profit pressure or bearishness in the market despite profitability. Historically, such sell-offs usually triggered price increases within a month. Despite record mining difficulty and strong hash rates, miners’ outflows may indicate a potential bullish divergence as institutional buyers digest supplies. Bitcoin is currently trading at $112,931, up 1% in 24 hours.