From attaining a six-figure market price to a sudden market crash, Bitcoin has remained the major headliner in the crypto market over the past week. Among these rapid developments on the largest digital asset, blockchain analytics company Santiment has observed a massive decline in mining balance.
Bitcoin Miners Offload 85,503 BTC In 48 Hours
On Friday, Santiment shared a report on Bitcoin mining wallets activity in correlation to the asset’s price. According to the analytics firm, there has been a consistent decrease in the Bitcoin collective mining balances since April 2024 indicating that miners have been gradually selling their BTC or moving funds to another wallet.
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However, Santiment states these mining wallets have now transferred out 85,503 BTC, valued at $8.56 billion, over the
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