10x Research: Bitcoin miners may dump $5 billion worth of BTC after halving

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Chaincatcher2024/04/12 05:00

By:Chaincatcher

ChainCatcher message, 10x Research posted on the X platform that Bitcoin miners may sell $5 billion worth of BTC after halving, mainly due to the following three factors:

1. As Bitcoin miners prepare to sell a large amount of their BTC inventory, the cryptocurrency market may face significant challenges during a six-month "summer" lull period. These inventories were hard-earned over the past few months and may disrupt market dynamics.

2. This is a typical situation before Bitcoin halving (April 20th), where miners hoard Bitcoin, causing an imbalance in supply and demand, leading to a rebound in Bitcoin prices. In this scenario, altcoins may be hit first.

3. According to calculations, miners may liquidate $5 billion worth of BTC after halving. The surplus brought by this selling pressure could last for four to six months, explaining why Bitcoin might trade sideways in the coming months as it did after previous halvings.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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