June 22 (Cointime) - Bitcoin's price has increased by over 8% in the past 24 hours, which could have a positive impact on the coin's mining industry. Miners had been forced to sell their BTC holdings due to the coin's price remaining under the $28,000 mark for multiple weeks, resulting in a decline in revenue and an increase in mining costs.
However, the recent price pump may change miners' motives for selling BTC and increase their profits. On-chain metrics suggest that BTC's near-term future may be positive, but selling pressure remains dominant in the market.
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