POPA Recon🪙 This is the sales volume of miners.
🪙 This is the sales volume of miners. It is calculated using the formula Bitcoin mining volume x market price. After the halving, miners’ sales definitely dropped a lot. However, the total sales volume itself is definitely not at the bottom. Saying that halving has no effect on Bitcoin price denies the principle of supply and demand. Looking at the indicator, there is clearly a strong positive correlation between Bitcoin price and halving.
The excerpt is quoted from a public Telegram channel, which owns its text.