🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Remember the thrill of opening your first account, or the Gate merch that’s been part of your daily life?
📸 Join the #MyGateMoment# campaign!
Share your story on Gate Square, and embrace the next 30 million together!
✅ How to Participate:
1️⃣ Post a photo or video with Gate elements
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3️⃣ Share your post on Twitter (X) — top 10 views will get extra rewards!
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Latest Data Released: Are Bitcoin Miners Selling or Holding? What Could Happen Next?
Cryptocurrency analysis firm Alphractal published its latest views on the market dynamics of Bitcoin, revealing a significant change in miner behavior.
According to the company, Bitcoin miners have recently reduced their selling activities after a period of benefiting from the market rally to cover operational costs.
Alphractal noted that the Bitcoin Miner Selling Pressure metric, which compares BTC outflows with average reserves over time, indicates a decrease in liquidations. This suggests that miners are selling less BTC and overall supply pressure in the market is decreasing.
The company said, 'After a period of intense sales, values are currently below average, indicating a contraction in miner-driven supply.'
Despite the decrease in selling pressure, Alphractal also indicated an increase in Bitcoin's mining difficulty, which may eventually push miners to sell again. Higher difficulty means tougher competition among miners, leading to increased operational expenses. Under normal circumstances, this will result in selling more BTC to cover the costs.
However, Alphractal suggested that many miners may now prefer to hold onto their BTC with the expectation of higher prices, as they may have already liquidated some of their assets. Nevertheless, if mining difficulty continues to increase, new waves of selling pressure may emerge.