Opinion: Bitcoin miners are dumping BTC at a record pace in 2023.

On September 9, Charles Edwards, founder of the crypto quantitative digital asset fund Capriole Investments, stated, "Bitcoin miners are selling Bitcoin in large quantities, at a speed not seen since Bitcoin prices reached $19,000 (end of 2022 level). This situation usually has two reasons: 1. Profit margins are tightening, and miners need cash (this is not the case today); 2. A bearish market while in profit. In either case, the coin price is usually higher a month later."

BTC-0.72%
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