Bitcoin Miners Are Selling BTC at Levels Not Seen in a Long Time – But According to Analysts, This Means Something Different

Cryptocurrency analyst Charles Edwards stated that Bitcoin (BTC) miners are generating extraordinary selling pressure. “Bitcoin miners are selling Bitcoin at a rate not seen since the $19,000 ￰0￱ usually happens for two reasons: either they need cash (which isn't the case today), or they're profitable and anticipating a ￰1￱ every time this has happened in the past, the price has been higher a month later,” Edwards ￰2￱ News: List of Altcoins That Crypto Developers Focused On Most in the Last Week Published Meanwhile, analyst Joao Wedson highlighted a critical support level for Bitcoin. “If BTC falls below $110,400, we could see fear and wild swings in the crypto market next week,” Wedson ￰3￱ also painted a positive picture for Dogecoin (DOGE).

According to on-chain data, short-term investor demand is trending ￰4￱ stated, “In the past, Dogecoin has experienced strong bull rallies whenever this metric has ￰5￱ indicator has been rising again in recent weeks, and if the trend continues, it could present a promising picture for memecoins.” *This is not investment ￰6￱ Reading: Bitcoin Miners Are Selling BTC at Levels Not Seen in a Long Time – But According to Analysts, This Means Something Different