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Cryptocurrency News Articles
Bitcoin Miners Cash Out Nearly $850M Amid Price Surge
Apr 30, 2025 at 01:30 am
Miners have taken advantage of the recent Bitcoin rally, offloading 943 BTC—valued at approximately $850 million—as BTC traded around the $93,000 mark.
Bitcoin (BTC) miners sold nearly $850 million in BTC as the flagship cryptocurrency trades around the $93,000 level.
Miners sold 943 BTC amid the recent Bitcoin price rally, according to CryptoQuant's Ali (@ali_charts). This is a clear sign that miners are capitalizing on price strength to secure profits.
The chart shows a reduction in miner reserves from April 24, which coincides with Bitcoin’s surge above $93,700.
This selloff highlights a typical behavior pattern of miners, who reduce reserves during bull runs to cover operational costs or capitalize on favorable market conditions.
However, the broader market seems to be handling the selling pressure efficiently, with BTC continuing to trade within a strong upward channel.
This comes as the Trump family’s new crypto initiative is expanding its global footprint with the addition of Binance CEO Changpeng Zhao to its advisory board.
The post Bitcoin Miners Cash Out Nearly $850M Amid Price Surge appeared first on iZena News.
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