Cryptocurrency market maker Wintermute reported a radical change in the preferences of mining companies ahead of the Bitcoin network halving.
Mining companies are actively selling off their bitcoin holdings on the eve of the fourth halving, which is likely to occur around April 19.
Over the past six months, mining companies have sold a total of about $124 billion worth of bitcoins, and reserves have decreased to 1.8 million BTC.
Now the market value of the flagship cryptocurrency is about $69,095. Over the past 24 hours, BTC has fallen in price by 1.7%.
Analytical platform Glassnode reported that simultaneously with the decrease in BTC reserves, mining companies are seeing a decrease in the share of bitcoins in the accounts of long-term BTC holders – to 65.8%. This is a new low since October 2022.
Source: Cryptocurrency
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