The price of Bitcoin dropped to a four-month low of $77,393, causing miners to sell off their holdings and adding bearish sentiment to the market. On-chain data shows a significant increase in miner transfers to exchanges, indicating that miners are offloading their coins to cover costs or minimize losses. The drop in BTC miner netflow further confirms the trend of miners selling their coins. This increased selling pressure could weaken BTC's price and potentially lead to a further downward trend. The current trading volume reflects high selling activity, and if the selling trend continues, BTC's value could drop below $80,000 again. However, if there is strong demand to absorb the supply, the value could rise to $86,601.



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