The post Satoshi-era Bitcoin miner wallet move 50 BT, worth $4.33 million appeared on BitcoinEthereumNews.com. After getting rejected at $93k, Bitcoin [BTC] faced intense downward pressure, hitting a low of $83k, before slightly rebounding. At press time, BTC was trading at $86,564, up 0.7% on the daily charts but down 1.06% on the weekly charts. Amid this heightened market volatility, large entities, including miners, are emerging to close positions. A Satoshi-era Bitcoin miner moves 50 BTC According to Onchain Lens, a wallet from the Satoshi era moved 50 BTC, worth approximately $4.33 million, into five new wallets. The whale moved after being dormant for over fifteen years. Source: Onchain Lens Usually, when dormant wallets move, there are two significant reasons. The most common interpretation is preparation to sell and realize gains.  If sold, it will add to the already pressured market, although the amount of Bitcoin moved remains minimal.  The other reason for such movement is reorganizing or securing wallets, indicating the need to upgrade security infrastructure. Bitcoin miners capitulating amid prolonged downtrend With BTC in a prolonged dip, miner revenue has plummeted, as evidenced by the Puell Multiple. According to Checkonchain, this metric has dipped to 0.7 at press time.  At such low levels, it suggests that miner revenue is 30% below its long-term mean, driving them to seek revenue from elsewhere to finance operational costs. Source: Checkonchain As a result, miners have turned to aggressive selling. On the 1st of December, as BTC fell back towards $83k, most miners panicked and sold 8.3k BTC. When miners turn to aggressive selling, it signals increased financial pressure, especially as BTC prices decline. Source: CryptoQuant Historically, the group’s increased selling activity has preceded lower prices, especially when it coincides with thin market liquidity.   A rebound or more losses ahead for BTC? According to AMBCrypto, Bitcoin is under intense downward pressure from across market players, including miners. As… The post Satoshi-era Bitcoin miner wallet move 50 BT, worth $4.33 million appeared on BitcoinEthereumNews.com. After getting rejected at $93k, Bitcoin [BTC] faced intense downward pressure, hitting a low of $83k, before slightly rebounding. At press time, BTC was trading at $86,564, up 0.7% on the daily charts but down 1.06% on the weekly charts. Amid this heightened market volatility, large entities, including miners, are emerging to close positions. A Satoshi-era Bitcoin miner moves 50 BTC According to Onchain Lens, a wallet from the Satoshi era moved 50 BTC, worth approximately $4.33 million, into five new wallets. The whale moved after being dormant for over fifteen years. Source: Onchain Lens Usually, when dormant wallets move, there are two significant reasons. The most common interpretation is preparation to sell and realize gains.  If sold, it will add to the already pressured market, although the amount of Bitcoin moved remains minimal.  The other reason for such movement is reorganizing or securing wallets, indicating the need to upgrade security infrastructure. Bitcoin miners capitulating amid prolonged downtrend With BTC in a prolonged dip, miner revenue has plummeted, as evidenced by the Puell Multiple. According to Checkonchain, this metric has dipped to 0.7 at press time.  At such low levels, it suggests that miner revenue is 30% below its long-term mean, driving them to seek revenue from elsewhere to finance operational costs. Source: Checkonchain As a result, miners have turned to aggressive selling. On the 1st of December, as BTC fell back towards $83k, most miners panicked and sold 8.3k BTC. When miners turn to aggressive selling, it signals increased financial pressure, especially as BTC prices decline. Source: CryptoQuant Historically, the group’s increased selling activity has preceded lower prices, especially when it coincides with thin market liquidity.   A rebound or more losses ahead for BTC? According to AMBCrypto, Bitcoin is under intense downward pressure from across market players, including miners. As…