CandleFocus BTC Miners Drain Their Holdings as $100,000 Target Stays Out of Reach
2024-11-23
Author: Content Editor
Bitcoin miners have been reducing their holdings as the price of the coin remains below $100,000. The miner reserve has reached its lowest level since the beginning of the year, indicating miners are selling their coins. The miner netflow is negative, suggesting miners are selling more than they are buying. Despite this selling pressure, the bullish trend for Bitcoin remains strong. The positioning of the Parabolic SAR indicator indicates a bullish trend, and if it continues, the price could exceed $100,000. However, if profit-taking increases, the price could drop to $88,986.
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