Skip to content

Reduced Bitcoin Miner Sell-Off Could Spark Bull Run in Q3 2024

Reduced Bitcoin Miner Sell-Off Could Spark Bull Run in Q3 2024
With miner selling pressure easing, bitcoin and the rest of the crypto market could see a much-anticipated rally.

Table of Contents

Bitcoin miners have been causing market declines by selling off their BTC following the latest halving event. However, recent data suggests that the selling pressure from miners has significantly decreased, potentially leading to a market-wide surge. This trend could indicate a potential market bottom and stabilize the market. Additionally, AI and Bitcoin mining operations are forming partnerships and mergers as AI sees more demand for capacity and Bitcoin miners seek new ways to maximize returns on their investments. This week, Core Scientific announced an expanded partnership with CoreWeave, and Hut 8 secured $150 million in debt from private equity firm Coatue to develop its data center portfolio for AI.

Source

Latest