Bitcoin's price has recovered slightly over the weekend but remains at a seasonal low of $27,360. According to CryptoQuant, miners may be behind the latest slump as they have been reducing their holdings since May 5. The selling pressure has remained consistent, culminating in Bitcoin tumbling to a multi-month low of $26,260 on Friday. However, CryptoQuant has reason to believe the selloff will end soon as the miner net position values are in the zone where Bitcoin bounced off in previous times.
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Bitcoin Miners Sell Off, Contributing to Latest Price Slump
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