Cryptocurrency analysis firm Alphractal has revealed that miners have been actively selling their holdings of Bitcoin, Litecoin, Dogecoin, and Bitcoin Cash during periods of price surges. Contrary to popular belief, miners are not hesitant to profit from rising prices.
Alphractal’s analysis indicates that miners have strategically utilized price increases to offload their coins, demonstrating their opportunistic behavior. This practice is essential for sustaining their mining operations and ensuring profitability.
In the case of Bitcoin, miners capitalized on the significant upward trend between 2023 and 2024 to sell their BTC holdings. The increased hash rate and heightened competition among miners during this period led to a surge in computational power, forcing miners to realize profits. As a result, the current selling pressure from miners has diminished significantly.
