{"id":168320,"date":"2024-07-02T15:50:42","date_gmt":"2024-07-02T15:50:42","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=168320"},"modified":"2024-07-02T15:50:46","modified_gmt":"2024-07-02T15:50:46","slug":"bitcoin-miners-panic-massive-sell-off-signals-major-capitulation","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-miners-panic-massive-sell-off-signals-major-capitulation\/","title":{"rendered":"Bitcoin Miners Panic: Massive Sell-Off Signals Major Capitulation"},"content":{"rendered":"<p style=\"text-align: justify\">TL;DR<\/p>\n<ul>\n<li style=\"text-align: justify\">Bitcoin miners <strong>have sold the equivalent of five days of production in just 72 hours<\/strong>, liquidating 2,300 BTC worth approximately $145 million dollars.<\/li>\n<li style=\"text-align: justify\"><strong>The selling trend began after the last halving in April<\/strong>, increasing economic pressure on miners and leading to a significant drop in their revenues.<\/li>\n<li style=\"text-align: justify\">The situation has intensified with <strong>recent BTC sales by the governments<\/strong> of the United States and Germany, as well as the<strong> imminent repayments to Mt. Gox creditors.<\/strong><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><strong><a href=\"https:\/\/crypto-economy.com\/the-6-best-bitcoin-wallets\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a> miners have <a href=\"https:\/\/cryptoquant.com\/asset\/btc\/chart\/miner-flows\/miner-reserve?miner=all_miner&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line\" target=\"_blank\" rel=\"noopener\">sold<\/a> the equivalent of five days of production in just 72 hours<\/strong>, reflecting significant selling pressure in the market. A trend that has alarmed investors, as <strong>2,300 BTC<\/strong> were liquidated in the last three days, an amount reaching approximately<strong> $145 million dollars<\/strong>, as reported by Ali Martinez.<!--more--><\/p>\n<p style=\"text-align: justify\">The massive sell-off is part of a trend that <strong>started after BTC&#8217;s last halving in April.<\/strong> Halving halves the reward for mined blocks, thereby reducing rewards. This has put <strong>considerable economic pressure<\/strong> on miners. Since then, revenues have fallen to alarming levels,<strong> leading to warnings of capitulation that now seem to be materializing.<\/strong><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In the past 72 hours, <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Bitcoin<\/a> miners have sold over 2,300 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$BTC<\/a>, valued at approximately $145 million! <a href=\"https:\/\/t.co\/swXl61VqkB\" target=\"_blank\">pic.twitter.com\/swXl61VqkB<\/a><\/p>\n<p>&mdash; Ali (@ali_charts) <a href=\"https:\/\/twitter.com\/ali_charts\/status\/1808025726198899046?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">July 2, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\">The situation worsened with <strong>recent sales by various governments<\/strong>. The <strong>United States<\/strong> government has begun to liquidate part of its Bitcoin reserves. <strong>Germany<\/strong>, in particular, has transferred more than <strong>2,332 BTC<\/strong> since July 1st, an amount exceeding<strong> $145 million dollars<\/strong>. Sales by governmental entities have intensified pressure in the market, which is already experiencing significant volatility.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The German Government transferred 832.7 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$BTC<\/a>($52M) out again 35 minutes ago, of which 282.7 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$BTC<\/a>($17.65M) was transferred to <a href=\"https:\/\/twitter.com\/hashtag\/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Bitstamp<\/a>, <a href=\"https:\/\/twitter.com\/hashtag\/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Coinbase<\/a> and <a href=\"https:\/\/twitter.com\/hashtag\/Kraken?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Kraken<\/a>.<\/p>\n<p>German Government currently holds 43,859 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$BTC<\/a>($2.74B).<a href=\"https:\/\/t.co\/uBaH2Wtxev\" target=\"_blank\">https:\/\/t.co\/uBaH2Wtxev<\/a> <a href=\"https:\/\/t.co\/f15sht8Npc\" target=\"_blank\">pic.twitter.com\/f15sht8Npc<\/a><\/p>\n<p>&mdash; Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1808063137117360129?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">July 2, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 style=\"text-align: justify\">Bitcoin at a Crossroads: Mt. Gox Repayments<\/h2>\n<p style=\"text-align: justify\">In addition, <strong>repayments to Mt. Gox creditors<\/strong>, set to begin this month, could further increase selling pressure. The exchange&#8217;s funds, valued at approximately<strong> $8 billion dollars<\/strong>,<strong> could be liquidated by creditors<\/strong>, introducing a massive amount of BTC into the market and boosting volatility.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-86101\" src=\"https:\/\/crypto-economy.com\/es\/\/wp-content\/uploads\/sites\/4\/2024\/06\/BTC-Miner.jpg\" alt=\"bitcoin post\" width=\"825\" height=\"300\" \/><\/p>\n<p style=\"text-align: justify\">The combined effect of the aforementioned factors has<strong> led to a drastic drop in the network&#8217;s hash rate<\/strong>, an indication of miners capitulating and seeking short-term exit strategies. Analysts anticipate that this selling behavior will continue.<\/p>\n<p style=\"text-align: justify\">It is crucial for investors to remain vigilant and prepared for a month of high volatility. Massive BTC sales could continue to exert pressure on Bitcoin prices, affecting the market in unpredictable ways.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Bitcoin miners have sold the equivalent of five days of production in just 72 hours, liquidating 2,300 BTC worth approximately $145 million dollars. The selling trend began after the last halving in April, increasing economic pressure on miners and leading to a significant drop in their revenues. The situation has intensified with recent BTC &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Bitcoin Miners Panic: Massive Sell-Off Signals Major Capitulation\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/bitcoin-miners-panic-massive-sell-off-signals-major-capitulation\/#more-168320\" aria-label=\"More on Bitcoin Miners Panic: Massive Sell-Off Signals Major Capitulation\">Read more<\/a><\/p>\n","protected":false},"author":34,"featured_media":168323,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,74],"tags":[4602,4656,4765,4770],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/168320"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=168320"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/168320\/revisions"}],"predecessor-version":[{"id":168324,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/168320\/revisions\/168324"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/168323"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=168320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=168320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=168320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}