Miners sell bitcoins in bulk

According to representatives of the analytical company Glassnode, bitcoin miners are now actively selling the main cryptocurrency. The sales are so big that they account for 135% of the daily supply of BTC. This means that miners around the world are now selling 35% more bitcoins on exchanges than they are mining.

As for the exact numbers, the miners convert about 900 BTC into fiat equivalents and additionally sell ~315 coins that were in their reserves. At the time of writing, the cost of one BTC is $16,700.

Earlier, information appeared that most of the major players, just like miners, began to sell their digital assets and record losses. Another part of the owners of the main cryptocurrency withdraw funds from exchanges to wallets, whether they are cold wallets or their online counterparts.

Nayib Bukele, President of Salvator, the first country to adopt bitcoin at the state level, announced that the state will buy 1 BTC every day from November 18th. The initiative was eagerly supported by Justin Sun, the founder of the TRON blockchain. He also began to actively invest in the main cryptocurrency.

Recently, BTC set a record this year for the liquidation of short positions. On October 26, short positions for $331,800,000 were liquidated, which led to a sharp increase in the cryptocurrency asset. Interest in the crypto market and in particular in bitcoin, despite a lot of negative news, has increased quite strongly. In Google Trends, for example, the popularity of the query “Bitcoin” has risen to 100 points out of 100 possible. Such a surge was recorded last week. Along with the great popularity and mass liquidation of short positions, the main cryptocurrency showed other records. On November 10, BTC dropped to $15,780, which was last seen in November 2020.