- Hashrate Index investigates the extent to which BTC miners effect Bitcoin’s value.
- According to the blog, miners only own 1% to 4% of the total Bitcoin supply.
- The selling pressure of one hundred percent of miners’ output corresponds to 0.2% of Bitcoin’s market volume.
- The Hashrate Index of Luxor Technologies, which provides cryptocurrency miners with high-quality mining analytics, published a blog post analyzing how Bitcoin miners contribute to market selling pressure.
The blog initially establishes that, as Bitcoin’s net sellers, miners routinely exert some selling pressure on the market. In addition, the intensity of the selling pressure fluctuates according on whether and when miners sell during a bad market.
The “hodl-at-all-costs” treasury strategy of BTC miners represents the inclination of miners to sell the leading cryptocurrency during bull markets, even if it means selling the coin at a lower price during down markets.
Although it is anticipated that miners’ selling pressure during bear markets has a detrimental impact on the Bitcoin price, analysts have not yet confirmed the pressure’s impact. Numerous members of the crypto community believe this…
Coin Edition was the first to publish Luxor Technologies Hashrate Index’s study on Bitcoin miners.