Crypto analyst said he doesn’t expect significant selling from miners after the Bitcoin (BTC) halving.
The analyst of on-chain analysis platform CryptoQuant spoke about what could happen after the Bitcoin halving. He noted that the prevailing opinion is that miners will need to sell to maintain their operations since they will produce less Bitcoin after halving.
On the contrary, he said that crypto miners have already prepared for this and that there will not be significant selling pressure from that side after halving.
Especially pointing out that sales of miners increased in the last quarter of 2023, he emphasized that these sales peaked on January 11 with the approval of the spot Bitcoin ETF.
Bitcoin miners had sold a significant amount of their Bitcoin and purchased spot Bitcoin ETF after its approval:
Considering the large amount of stock in the ETF and the early preparation for the halving, I don’t think a sudden miner sell-off is likely to happen.
