Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: Coinpedia Fintech News on May 09, 2023, 01:25:05 PM
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Bitcoin miner outflows have surged to an 11-month high, with miners selling their holdings at the fastest rate in nearly a year, according to data from Glassnode.
The cause of this sell-off is unclear, but experts speculate that it could be due to the recent suspension of Bitcoin withdrawals by Binance or the fact that miner revenue has hit a yearly high. With fears of declining revenue, miners may be cashing out while BTC is still profitable.
On May 8, 2023, Bitcoin's miner revenue reached $41,744, a level not seen since April 2022. This development has raised concerns about a potential crypto crisis.