It has been almost a month to the bitcoin half event, but there was no new bullish trend or post-half liquidation. Bitcoin price has been strangely moving relatively sideways since then.
However, one of the metrics that have changed since the split is the amount of dumping BTC miners. So when will miners start to hold their hands for high prices?
Post-Half BTC Dump Increased
The last half of Bitcoin was the most anticipated event of the crypto asset ever. During the past half-downs, the crypto world had no idea what awaited BTC in the days that followed.
However, past periods have shown that Bitcoin continues to parabolic rallies immediately after the block reward halves.
As is known, in the last half, the BTC mining reward fell from 12.5 BTC per block to 6.25 BTC.
This significant reduction led to a sharp increase in production cost.
Analysts have come to the conclusion that after a long time this has occurred, miners will begin to hold their BTC for obvious prices rather than selling them at a loss.
But the opposite happened. According to one metric, Bitcoin miners dump their Bitcoins more than ever.
The reason is simple: to compensate for loss of income.
Production cost has doubled after the halfway. BTC, which is much cheaper, is sold at a higher rate to compensate for losses from increased operating expenses.
Interestingly, although the amount of BTC sold by miners has increased sharply, the price of Bitcoin has not yet been affected by the increase in sales.