The amount of Bitcoin that Bitcoin miners sell after halving the block prize becomes clear. It’s been about a week since the halving of the block prize in Bitcoin took place. How have miners’ Bitcoin production and sales balances changed within this week?
According to the data we compiled from ByteTree, which offers various data on cryptocurrencies, Bitcoin miners were producing 12,000 BTC weekly before halving . As can be seen clearly in the table below, weekly production has reached 5 thousand 250 BTC for the first week . However, the table in the “first spender” as indicated by the value of the miners 5 thousand 900 ‘realized on the sale of BTC reputation. The reason that the amount sold is more than production is that miners start to accumulate Bitcoin before halving and sell the BTC they do not sell after halving.
Whether a large Bitcoin sale would come from the miners after halving was a matter of debate. In a news article we released last week, we reported that this will probably not happen. A huge wave of sales from miners occurs not just after halving, but often months after the price peaked. At least historical data shows that Bitcoin miners are selling at points where the price peaked after previous halvings.
Currently, there are two unique sides that put sales pressure on Bitcoin. One of them is miners, the other is, and more importantly, exchanges. Exchanges that collect transaction fees with BTC sell them for cash. In a calculation, it is stated that exchanges create a daily sales pressure of 1200 BTC in this way.