10x research analyst believes that the cryptocurrency market may face significant challenges in the next six months as Bitcoin miners are preparing to sell a large amount of Bitcoin inventory they have accumulated over the past few months. This inventory could disrupt market dynamics. This is a typical scenario before the Bitcoin halving on 4/20, where miners hoard Bitcoin, leading to supply-demand imbalances, followed by an increase in Bitcoin prices. Other cryptocurrencies, in particular, may be affected by this situation.
Bitcoin Plunges to 66K, Market Experiences 900 Million Magnesium Liquidation! Analysts: Miners Sell 5 Billion Magnesium Inventory, Future Six Months Expected to Be Sluggish