{"id":42921,"date":"2024-12-09T08:16:22","date_gmt":"2024-12-09T08:16:22","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/santiment-reports-bitcoin-miners-offload-8-5-billion-in-btc-in-two-days\/"},"modified":"2024-12-09T08:16:22","modified_gmt":"2024-12-09T08:16:22","slug":"santiment-reports-bitcoin-miners-offload-8-5-billion-in-btc-in-two-days","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/santiment-reports-bitcoin-miners-offload-8-5-billion-in-btc-in-two-days\/","title":{"rendered":"Santiment Reports Bitcoin Miners Offload $8.5 Billion in BTC in Two Days"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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In a notable shift, Bitcoin miners have sold over $8.55 billion worth of BTC within two days, according to crypto analytics firm Santiment. This marks the largest BTC sell-off by miners in the last 10 months, signaling significant movement within the crypto ecosystem.<\/p>\n

Santiment shared on X that Bitcoin mining<\/a> balances have steadily declined since April 2024. The recent drop of 85,503 BTC in just 48 hours represents the steepest decline since February, two weeks before Bitcoin reached its $73,000 all-time high.<\/p>\n

Despite the large miner sell-off, non-mining whales and sharks continue to buy Bitcoin. Santiment highlighted this as a \u201cnet-neutral signal\u201d for now, as whale activity offsets miner distributions.<\/p>\n

\u201cBitcoin\u2019s collective mining balances have been dropping since April 2024,\u201d<\/em> Santiment stated. \u201cHowever, this latest drop\u2026 is the most extreme we\u2019ve seen since late February\u2026 Overall, non-mining whales and sharks are still accumulating. Consider this a net-neutral signal for the time being.\u201d<\/em><\/p>\n

Bitcoin\u2019s Price and Stock Market Correlation<\/h2>\n

Currently trading at $99,441, Bitcoin shows a strong correlation with the S&P 500, according to Santiment. This trend has sparked discussions about Bitcoin behaving like a \u201chigh leveraged tech stock.\u201d<\/p>\n

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Santiment emphasized that breaking this correlation with equities would be a bullish sign for Bitcoin. \u201cPay attention to a more mid or long-term break between crypto and equities. If this correlation begins to weaken, it would be a bullish signal,\u201d<\/em> the firm noted.<\/p>\n

The report also referenced the \u201cTrump Pump\u201d that temporarily boosted Bitcoin prices, illustrating how market events influence cryptocurrency trends.<\/p>\n<\/p><\/div>\n

Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) In a notable shift, Bitcoin miners have sold over $8.55 billion worth of BTC within two days, according to crypto analytics firm Santiment. This marks the largest BTC sell-off by miners in the last 10 months, signaling significant movement within the crypto ecosystem. Santiment shared on […]<\/p>\n","protected":false},"author":35,"featured_media":42922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/42921"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=42921"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/42921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/42922"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=42921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=42921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=42921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}