The drop in Bitcoin prices to $77.7K has caused financial challenges for Bitcoin miners, leading to an increase in their transfers to crypto exchanges. This selling pressure further decreases BTC prices. Historical market patterns suggest that additional price declines will occur until strong buyer settlements stabilize supply. Miners are increasing their liquidation practices to cover operating expenses, creating an imbalance with buy-side liquidity. The market demand's strength and price recovery potential may counter the distribution pressure. On-chain metrics, such as miner activity, are crucial for market forecasting. The market is closely monitoring Bitcoin's transaction logistics and exchange supply trends to determine its price evolution.



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