Breakeven Sellers Cast Shadow Over Bitcoin Price Gains

Bitfinex has shed light on a significant shift in the Bitcoin market, revealing that the marginal seller is no longer the miner.

A substantial amount of 1.79 million BTC purchased between $62,000 and $65,000 is now at breakeven and actively selling during price increases, potentially providing resistance to any upward movement.

This development could have a considerable impact on trading strategies as these holders are likely to sell when prices push higher.