BTC Miners Drain Their Holdings as $100,000 Target Stays Out of Reach

BE[IN]CRYPTO11-24 03:00

BTC miner reserves have dropped to 1.81M BTC, a year-to-date low, as miners sell coins to secure profits or offset rising operational costs. Negative miner netflow highlights sustained sell-offs, ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2485780870?lang=en_US&edition=fundamental","thumbnail":"https://beincrypto.com/wp-content/uploads/2024/11/bic_bitcoin_bep2_btcb_2-covers_bearish-1-850x478.jpg.optimal.jpg","is_english":true,"pubTime":"2024-11-24 03:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2485780870","market":"us","top_or_hot":-1,"title":"BTC Miners Drain Their Holdings as $100,000 Target Stays Out of Reach","media":"BE[IN]CRYPTO","content":"<div>\n<p>BTC miner reserves have dropped to 1.81M BTC, a year-to-date low, as miners sell coins to secure profits or offset rising operational costs. \nNegative miner netflow highlights sustained sell-offs, ...</p>\n\n<a href=\"https://beincrypto.com/btc-miners-drain-holdings/\">Source Link</a>\n\n</div>\n","source":"beincrypto_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BTC Miners Drain Their Holdings as $100,000 Target Stays Out of Reach</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBTC Miners Drain Their Holdings as $100,000 Target Stays Out of Reach\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-24 03:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://beincrypto.com/btc-miners-drain-holdings/><strong>BE[IN]CRYPTO</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>BTC miner reserves have dropped to 1.81M BTC, a year-to-date low, as miners sell coins to secure profits or offset rising operational costs. \nNegative miner netflow highlights sustained sell-offs, ...</p>\n\n<a href=\"https://beincrypto.com/btc-miners-drain-holdings/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4135","symbol_name":"资产管理与托管银行","start_time":0,"source_url":"https://beincrypto.com/btc-miners-drain-holdings/","article_id":"2485780870","we_media_id":null,"thumbnails":["https://beincrypto.com/wp-content/uploads/2024/11/bic_bitcoin_bep2_btcb_2-covers_bearish-1-850x478.jpg.optimal.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485780870","pubTimestamp":1732388400,"sourceInfo":{"source_id":"beincrypto_highlight","name":"BE[IN]CRYPTO"},"weMediaInfo":null,"summary":"BTC miner reserves have dropped to 1.81M BTC, a year-to-date low, as miners sell coins to secure profits or offset rising operational costs.Negative miner netflow highlights sustained sell-offs, signaling potential downward pressure on BTC’s price.Parabolic SAR remains bullish, suggesting BTC could reclaim $99,860 and break $100K if buying pressure outweighs miner sell-offs.Bitcoin miners have been actively reducing their holdings in recent weeks as the coin’s price continues to hover below the critical $100,000 mark. At press time, the leading coin trades at $98,535, noting a 1% decline from its all-time high of $99,860 recorded during Friday session.As the BTC market begins to trend sideways, its miners may be prompted to further distribute their holdings for profit or to offset growing mining costs.If this trend persists, BTC’s price will reclaim its all-time high of $99,860 and may rally past the $100,000 psychological barrier. On the other hand, a spike in profit-taking activity w","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4135":"资产管理与托管银行","BTC":"Grayscale Bitcoin Mini Trust","SAR":"Saratoga Investment Corp","BK4601":"加密货币现货ETF","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4588":"碎股"},"translate_title":"由于10万美元的目标遥不可及，BTC矿商纷纷抛售所持股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTC":1,"SAR":1},"content_text":"BTC miner reserves have dropped to 1.81M BTC, a year-to-date low, as miners sell coins to secure profits or offset rising operational costs. \nNegative miner netflow highlights sustained sell-offs, signaling potential downward pressure on BTC’s price. \nParabolic SAR remains bullish, suggesting BTC could reclaim $99,860 and break $100K if buying pressure outweighs miner sell-offs.\n\nBitcoin miners have been actively reducing their holdings in recent weeks as the coin’s price continues to hover below the critical $100,000 mark. At press time, the leading coin trades at $98,535, noting a 1% decline from its all-time high of $99,860 recorded during Friday session. \nAs the BTC market begins to trend sideways, its miners may be prompted to further distribute their holdings for profit or to offset growing mining costs.\nBitcoin Miners Sell Their Holdings\nAccording to CryptoQuant’s data, Bitcoin’s miner reserve has fallen to its lowest level since the beginning of the year. As of this writing, it sits at 1.81 million BTC. \nThis metric tracks the number of coins held in miners’ wallets. It represents the coin reserves miners have yet to sell. A decline in the BTC miner reserve indicates that miners on the Bitcoin network are distributing their coins either to take profits or to cover mining-related costs.\nBitcoin Miner Reserve. Source: CryptoQuant\nMoreover, readings from BTC’s miner netflow confirm the daily trend of coin sell-offs by the network’s miners. As of this writing, the metric’s value is negative at -1,172 BTC.\nMiner netflow refers to the net amount of Bitcoin that miners are buying or selling. It is calculated by subtracting the amount of Bitcoin miners are selling from the amount they are buying. When it is negative, it indicates that miners are selling more coins than they are buying. This is often a bearish signal and a precursor to a short-term downward trend in the coin’s price.\nBitcoin Miner Netflow. Source: CryptoQuant\nBTC Price Prediction: The Bulls Remain in Control\nWhile BTC miners have added to the coin’s selling pressure over the past few weeks, the bullish bias toward the king coin remains significant. This is reflected in the positioning of the dots that make up its Parabolic Stop and Reverse (SAR) indicator. As of this writing, these dots rest below BTC’s price.\nThe Parabolic SAR identifies an asset’s trend direction and potential reversal points. When its dots are positioned under the asset’s price, it suggests a bullish trend. Traders interpret this as a signal to go long and exit short positions.  \nBitcoin Price Analysis. Source: TradingView\nIf this trend persists, BTC’s price will reclaim its all-time high of $99,860 and may rally past the $100,000 psychological barrier. On the other hand, a spike in profit-taking activity will invalidate this bullish outlook. If buying pressure weakens, BTC’s price may drop to $88,986.\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\nChain GPT\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto projects in the US | November 2024\n\n\nCoinbase\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\n3Commas\n\n\n\n\n\n\n\n\nChain GPT","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485780870"}