Bitcoin Selling By Miners Could Continue into Q3 if BTC’s Price Does Not Improve – JP Morgan

Summary: Bitcoin miners needing to sell could weigh down on the price of BTC for some time. According to analysts from JP Morgan, miners offloading Bitcoin to cover costs could continue into the third quarter of 2022 if the value of BTC does not improve. However, selling pressure could reduce, given Bitcoin production costs have dropped from $18k – $20k to $15k due to new machines being energy efficient. Bitcoin miners needing to sell their coins could continue to weigh […]