According to analytics firm CryptoQuant, whales, a term for large token holders, have sold over $1.2 billion worth of BTC in the past two weeks. They tend to use brokers instead of selling on the open market.
“Stablecoin liquidity continues to slow. It grew at its slowest rate since November 2023.” These traders have reduced their holdings since BTC prices surged to more than $70,000 in late May.
“One of the biggest trends since this year’s Bitcoin halving is that miners are increasingly turning their attention to AI businesses,” said Lucy Hu, senior analyst at crypto fund Metalpha.
“The decline in mining returns It encourages miners to look for other ways to increase their income. As AI companies require high-powered data centers, Bitcoin miners are gradually increasing their revenue by selling to AI companies.”
refer : coindesk.com
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