24/7 Cryptocurrency News

Bitcoin Bloodbath: Miners Start Selling Most Aggressively In The Last 7 Years

In the past three weeks, Bitcoin (BTC) miners have increased their selling pressure by 400%, taking this indicator reached new highs.
Published by
Bitcoin Bloodbath: Miners Start Selling Most Aggressively In The Last 7 Years

The recent crash in the price of bitcoin has distressed bitcoin miners. They are compelled to sell in order to cover their expenses.

In the past three weeks, Bitcoin (BTC) miners have increased their selling pressure by 400%. This indicator reached new highs, not seen since the bottom of the 2015 cycle, nearly 7 years ago.

Charles Edwards, the founder of Capriole Investments, a quantitative Bitcoin and digital asset fund, took to Twitter to reveal the distress that the BTC mining fraternity is going through.

Edwards presented charts showing the Bitcoin (BTC) price, mining expenses (log scales), and the amount of Bitcoins (BTC) miners are selling. It appears that the entire segment is having a difficult time.

Miner’s Distress

According to him, if the price of Bitcoin does not improve in the coming weeks, many miners would be compelled to cease operations due to huge losses.

He argues that mine-and-hodl is not a sustainable strategy for Bitcoin miners. Edward holds the “never selling” attitude of miners responsible for the current situation.

“Miners are paying the consequences of the “never selling” arrogance widespread just 6 months ago. You need to manage (trade) your Bitcoin position constantly in this market” he adds.

Also Read: Is FTX Crash An End Of Crypto? Here’s How A Multi Billion Dollar Scam Unfolded

Furthermore, this difficult period indicates that Bitcoin mining can no longer be deemed “passive income.” Miners should re-evaluate their strategies to avoid becoming bankrupt.

Charles Edwards reported earlier this month that Bitcoin (BTC) appeared to be severely oversold based on the Energy Value Model.

According to a report, an Australian mining firm, Iris Energy, had to unplug hardware as it defaulted on its loan due to insufficient cash flow. This makes the distress more evident, which can grapple the sector in coming weeks.

Also Read: Genesis Says It Has No Immediate Plans To Declare Bankruptcy, Seeks Consensual Resolution

Advertisement

Share
Dhirendra Kumar

Dhirendra is a writer, producer, and journalist who has worked in the media industry for more than 3 years. A technology enthusiast, a curious person who loves to research and know about things. When he is not working, you can find him reading and understanding the world through the lens of the Internet.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

XRP Treasury Holdings Hits $11.5B as Nasdaq-Listed Reliance Global Adds $17M in Fresh Buy

XRP holdings in corporate treasuries have now surpassed $11.5 billion in value. This follows news…

October 8, 2025
  • 24/7 Cryptocurrency News

FOMC Minutes, Jerome Powell Speech: Will Bitcoin Recover or Retrace Further?

Bitcoin and altcoins falter ahead of the FOMC Minutes release and Jerome Powell speech due…

October 8, 2025
  • 24/7 Cryptocurrency News

“Meme Coin SZN Is Here,” Says CZ As GIGGLE, 4 Price Skyrocket to All time Highs

Binance’s Changpeng “CZ” Zhao made a post suggesting the start of the BNB meme coin…

October 8, 2025
  • 24/7 Cryptocurrency News

CZ’s YZi Labs Commits $1 Billion Builder Fund As Binance Coin Surpasses XRP

Changpeng "CZ" Zhao's family office YZi Labs announced $1 billion Builder Fund to fuel BNB…

October 8, 2025
  • 24/7 Cryptocurrency News

Expert Sees LTC Crashing to $50 Even As Litecoin ETF Approval Reaches Final Stage

Litecoin (LTC) has been under investors' radar recently, after a 10% rally over the past…

October 8, 2025
  • 24/7 Cryptocurrency News

CleanCore’s Dogecoin Treasury Pays Off Big With $20M Gains as Holdings Near 1B DOGE

CleanCore’s Dogecoin Treasury has reported over $20 million in unrealized gains just weeks after launch.…

October 8, 2025