Bitcoin below $96K – Miners trigger a sell-off

12 February 2025

Bitcoin below $96K – Miners trigger a sell-off

 

The price of Bitcoin (BTCUSD) has dropped more than 3% in the past 24 hours, closing around $96,000 amid aggressive selling by miners. Over 2,000 BTC have been transferred to centralized exchanges since Bitcoin’s recovery to $98K, intensifying downward pressure on the market.

Bitcoin below $96K – Miners trigger a sell-off

This price decline is driven by miners’ efforts to reduce their reserves in response to market instability. At the same time, Bitcoin mining difficulty has increased by 5.6%, signaling new challenges for the industry and adding pressure on the cryptocurrency’s value. Typically, asset transfers to centralized exchanges indicate a readiness to sell, whereas transfers to custodial wallets suggest long-term holding.

Over the past two weeks, Bitcoin has repeatedly dropped below the $100K mark, influenced by uncertain U.S. trade policies and negative macroeconomic signals from the Labor Department report. A brief recovery failed to sustain bullish momentum, leading to large-scale sell-offs and further price declines, keeping altcoins under constant pressure.

As a significant part of institutional Bitcoin demand, miners continue to shape market dynamics. However, over the past seven days, selling activity has slowed as investors anticipate a potential price rebound.

FreshForex analysts forecast that BTCUSD retains the potential for recovery and even new all-time highs, while Standard Chartered suggests Bitcoin could reach $500K by 2028.

 

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Bitcoin below $96K – Miners trigger a sell-off

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