📉 **Bitcoin on the Retreat: Analysis of the Latest Market Moves**
The Bitcoin market has seen a significant decline over the past 24 hours, with the BTC/USDC pair recording a 4.49% decline, reaching $58,321.52. This correction is largely influenced by massive BTC sales by miners, who are facing financial pressure following the April 2024 halving.
🔍 **What's Going On?**
Since the halving, miners' daily revenue has declined sharply, reaching a recent yearly low of $2.54 million. As a result, many miners have chosen to liquidate large amounts of BTC to cover their operating costs, increasing selling pressure in the market. The MACD shows a bearish crossover, confirming the current negative momentum.
💼 **What Does This Mean for Investors?**
The current situation calls for caution. Selling pressure could continue to impact prices, so it is crucial to closely monitor miner activity and other key indicators.
Stay informed and keep a close eye on the market on Binance to make informed decisions.
