---
title: "Bitcoin Miners Offload 10,600 BTC in 24-Hours: Data"
url: https://diffcoin.com/bitcoin-miners-offload-10600-btc-in-24-hours-data/
description: "Bitcoin miners are on a selling spree as outflows hit a multi-year high with massive stash of BTC being sent to exchanges."
published: 2024-01-18
updated: 2024-01-18
author: "Mila"
site: "Diffcoin"
---

# Bitcoin Miners Offload 10,600 BTC in 24-Hours: Data

2024 kicked off with a tumultuous journey for Bitcoin, marked by the introduction of new spot ETFs on US markets. Bitcoin’s entry into traditional finance represents a historic move, but miners seem to be selling off their holdings.

This development is especially significant in light of the recent fluctuations in Bitcoin’s price.

- According to the latest CryptoQuant data cited by popular analyst Ali Martinez, Bitcoin miners are currently engaged in selling their holdings.
- There has been a significant uptick in the selling activities of miners, with approximately 10,600 BTC, equivalent to around $455.8 million, being offloaded earlier this week within a 24-hour period.
- The increased selling activity of Bitcoin miners may have significant repercussions for the market. Their activities could exert additional pressure on the price direction, potentially leading to a selling spree.

> 🚨 [#Bitcoin](https://twitter.com/hashtag/Bitcoin?src=hash&ref_src=twsrc%5Etfw) Miners in Selling Mode: Recent on-chain data from [@cryptoquant_com](https://twitter.com/cryptoquant_com?ref_src=twsrc%5Etfw) indicates a substantial increase in selling activity by [#BTC](https://twitter.com/hashtag/BTC?src=hash&ref_src=twsrc%5Etfw) miners. In just the last 24 hours, they’ve offloaded nearly 10,600 [$BTC](https://twitter.com/search?q=%24BTC&src=ctag&ref_src=twsrc%5Etfw), valued at approximately $455.8 million! [pic.twitter.com/JEtasWfR6N](https://t.co/JEtasWfR6N)
> 
> — Ali (@ali_charts) [January 17, 2024](https://twitter.com/ali_charts/status/1747580480868819313?ref_src=twsrc%5Etfw)

- Two days before the launch of spot Bitcoin ETFs, Bitcoin miners offloaded approximately 50,000 BTC, worth around $2.3 billion, to crypto exchanges, pushing miner outflow to a 77-month high.
- On January 11, the day when the instruments started trading, Bitcoin experienced an increase, reaching $49,000. However, three days later, it dropped to a low of $41,750 on January 14. The asset has since stabilized below the $43,000 range, currently being traded at $42,615, reflecting a 0.7% decline for the day.
- Following the ETF debut and the subsequent price decline, investors are now anticipating the next potential bullish trigger – the upcoming halving slated for April this year.

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[Source link](https://cryptopotato.com/bitcoin-miners-offload-10600-btc-in-24-hours-data/)