- Bitcoin has fallen below $19k in the last 24 hours.
- CryptoQuant said BTC miners have been reducing their reserves since January 21.
- The US government plans to tax BTC mining electricity use by 30%.
Since the beginning of the week, តម្លៃ Bitcoin (BTC) has been free falling from $23k. In the last 24 hours, it has gone below the $19k price point. A leading data analytics firm, CryptoQuant, released a statement early today noting that Bitcoin miners caused the bleeding trend in the market.
According to the firm’s analysis, អ្នករុករករ៉ែ BTC have been reducing their reserves since January 21, 2023, putting extra pressure on Bitcoin and contributing to a local downward correction in the price.
CryptoQuant suggested that if the miner pressure continues to increase along with other factors, Bitcoin could hit $16,600. “There is a volume gap between these levels, and accordingly, it can be difficult for Bitcoin to find a local bottom in intermediate zones,” the statement read.
Source: https://coinedition.com/btc-will-hit-16600-as-miners-mount-more-pressure-cryptoquant/