Bitcoin miners liquidate 30,000 BTC in 3 days

In just three days, the Bitcoin market was shaken by a massive sale estimated at 1.71 billion dollars orchestrated by miners. This series of unexpected sales quickly worried investors, especially since the cryptocurrency is already struggling to regain its momentum after several weeks of correction.

A massive sale by miners : a negative signal for the market ?

In the last 72 hours, Bitcoin miners have sold no less than 30,000 BTC, for an estimated value of 1.71 billion dollars. Indeed, miners were forced to liquidate their reserves, which created significant pressure on the price of Bitcoin. While Bitcoin struggles to stay above the symbolic threshold of 60,000 dollars, this wave of sales raises questions about recovery prospects.

Several factors explain this sudden sale. Since the 2024 halving, which halved miners’ rewards, profit margins have significantly diminished. Added to this is the historical increase in mining difficulty, reaching a record of 92.67 trillion on September 11th. Such a situation forces miners to deploy more resources for a lower yield. This combination of factors has pushed many miners, particularly the smaller ones, to sell a significant portion of their holdings to maintain their profitability.

What are the short-term market consequences ?

While this sale has shaken the market, it is crucial not to interpret it too simplistically. The liquidation of 30,000 BTC has put obvious pressure on the price, but it is only part of the equation. For several months, Bitcoin has been in a prolonged correction phase, marked by low institutional demand and a lack of major bullish catalysts. The miners’ sale only exacerbates a pre-existing trend but is not its sole driver. Despite the various shocks, the price of Bitcoin remains above 50,000 dollars, which indicates that supporting forces still exist in the market.

In the medium term, recovery prospects will depend on several factors. On the one hand, an increase in institutional demand could reignite interest in BTC and lead to a new bullish dynamic. On the other hand, the miners’ situation would continue to weigh on the market if economic conditions do not improve, particularly in terms of energy prices and mining difficulty.

It is clear that the Bitcoin market remains volatile, with increasing uncertainties in the coming months. Investors will need to closely monitor the evolution of fundamentals to anticipate the next moves.