Bitcoin price rises above $45,000 as miner selling pressure eases off: CryptoQuant | Headlines | News | CoinMarketCap
02/08/2024 23:09
Bitcoin broke through the $45,000 mark on Thursday, as on-chain data shows miner selling pressure is beginning to ease off. According to …
Bitcoin broke through the $45,000 mark on Thursday, as on-chain data shows miner selling pressure is beginning to ease off.
According to CryptoQuant, on-chain data shows that the largest U.S. publicly traded bitcoin mining companies have continued to increase their bitcoin holdings. For example, CryptoQuant's charts show Marathon Digital's bitcoin holdings have increased steadily over the past few months.
CryptoQuant estimates in real-time the total bitcoin holdings of Marathon Digital. Image: CryptoQuant.
Bitcoin selling pressure eases off
In a weekly report, CryptoQuant said that mining selling pressure has reduced after a period of high sales in November and December of 2023. "Daily selling by miners went from 800+ bitcoin daily in November-December 2023 to below 300 bitcoin …