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Just saw that Skipping Class @TJ_Research said Bitcoin's price is weaker than U.S. stocks mainly because of miner sell-off.

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Phyrex
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3 hours ago
AI summarizes in 5 seconds.

Just saw the class-skipping lord @TJ_Research say that the price of Bitcoin is weaker than the US stock market mainly because of miners' selling. From the data I gathered two days ago, actually, the price of $BTC has been doing well since the bottom during the US-Iran war. Although it is weaker than the Nasdaq, the increase has been greater than the S&P 500, of course, this is only referring to a time span of less than two months.

Additionally, looking at the miners' positions holding Bitcoin, there indeed have been signs of selling in the last two weeks, but the selling has not been significant, especially compared to the previous month when miners significantly increased their holdings. The current selling is just a very small amount, and the miners' holdings are not considered very poor.

If we really want to say that Bitcoin's growth potential is inferior to that of the US stock market, I personally still believe that the recent fluctuations between Iran and the US over the past two days have led to a decrease in trading volume for spot ETFs and spot Bitcoin investors, with declining purchasing power being the main reason.


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Selected Articles by Phyrex

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