– Here’s why this group is still holding as BTC falls below $70K

All Bitcoin miners might need is for the value of BTC to keep going up as their reserve stays flat.Despite this drop in revenue, miners have yet to start selling off their holdings, even with BTC falling below the $70,000 mark. They are choosing to hold onto their Bitcoin for now.

This implies that solving the block puzzle to add new blocks now requires less time and fewer resources. At press time, it was attempting to recover, likely supported by the recent rise in BTC prices, and sat around $34.1 million. This level of revenue is similar to what it was in December 2023.miner reserve indicated that it has remained stable over the past few days, holding around 1.816 million BTC at press time.

However, the value of this reserve has significantly increased in recent days. The chart showed that the reserve’s value rose from approximately $120 billion to over $129 billion by the 20th of May.miner reserve is due to the spike in BTC’s prices. On the 20th of May, the price of BTC surged from around $66,000 to over $71,000, a rise of more than 7%.

Source: Digital Coin News (digitalcoinnews.net)

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