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Negative Impact

Public Bitcoin miners sold a record 32,000 BTC as mining profits dropped

Bitcoin miners sold a record 32,000 BTC because mining became less profitable, leading them to shut down equipment. This affects the Bitcoin market by increasing supply and raising questions about future price trends.
Public Bitcoin miners sold a record 32,000 BTC. The sale came as hashprice dropped to post-halving lows and miners shut down rigs. This raises concerns about whether the move indicates a market bottom or more downside.
Relevance: 78%
Impact Duration: Weeks
Asset(s): BTC
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