Miners continue to sell mined bitcoins, but it happens without emotional pressure.
Analysts from CryptoQuant do not observe signs of panic selling, and there is no talk of capitulation.
Although sales create market pressure, it is not significant enough to crash it.
The hash rate has decreased by only 4%, which is much less than during previous miner sell-offs.
Analyst Willy Woo agrees with this view, noting that “we are seeing the least efficient miners leaving the market.”
The companies that remain have sufficient resources and will be able to restore the hash rate.
Due to the halving, many miners need to increase their capacities, so they are selling part of their reserves.
