Bitcoin mining companies are slowing down on BTC sell-offs while miners' revenue continues to increase, and retail investors remain optimistic. Public mining companies sold 100% of their holdings in the latter half of 2022, but for the first time in over six months, the liquidation ratio decreased to below 100% in March, indicating a slowdown in selling off BTC holdings.
This could be due to the increase in BTC's price, which has led to a spike in revenue generated by miners. Foundry Pool, one of the largest mining pools, has been observed to have a successful run in terms of mining blocks. Retail investors show no sign of stopping their accumulation, and the number of addresses holding more than 0.1 coins has reached an all-time high. At the time of writing, the selling pressure on these investors was relatively low, as most short-term holders were not profitable and did not have an incentive to sell.
All Comments