CandleFocus Key Bitcoin Stakeholders Unload Over $8,500,000,000 Worth of BTC in Just 48 Hours, Says Analytics Firm Santiment
2024-12-08
Author: Content Editor
Prominent crypto analytics firm Santiment has reported that Bitcoin miners sold over $8.55 billion worth of BTC in just two days, marking the largest distribution in the last 10 months. However, the firm notes that other large investors are accumulating Bitcoin, countering the effects of the miners' selling. Santiment also mentions that Bitcoin's price has been closely correlated with the S&P 500, but breaking this correlation would be positive for BTC. Historically, the firm states that cryptocurrencies have performed well in periods of little reliance on traditional stock markets.
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