Forced BTC Selling By Bitcoin Miners to Continue As Network Fees Collapse 90%

Quick Summary:

According to the latest report from Kaiko Research, forced selling by Bitcoin Miners is likely to continue ahead amid reduced rewards and lower network fees.

Over the past two months following the Bitcoin halving event, Bitcoin miners have been divesting their holdings to cover their operation expenses.

At the same time, the Bitcoin price remaining almost flat and showing sideways consolidation has added to further woes.

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Article Details

Author / Journalist: Bhushan Akolkar

Category: Crypto

Markets: India

Topics: Bitcoin price correction Marathon Digital Bitfarms BTC price drop Bitcoin miner capitulation Bitcoin Miners Bitcoin (BTC) Price Bitcoin Price Drop Bitcoin News 24/7 Cryptocurrency News Riot Blockchain

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-02 @ 14:18:20 (2 days ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 426 words

Reading Time: 3 minutes read

Sentences: 43 lines

Sentence Length: 10 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 21461721

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About CoinGape

Main Topics: Crypto

Official Website: coingape.com

Update Frequency: 44 posts per day

Year Established: 2017

Headquarters: India

News Last Updated: 9 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #59

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