Bitcoin
Falling Bitcoin Fees Could Lead to Faster Miner Sales, Analysts Predict
The recent halving reduced coin issuance per block from 6.25 BTC to 3.125 BTC. The price of BTC already faces downside risks due to MT Gox’s $9 billion payment to creditors, and an increase in selling pressure from miners could worsen the situation. High fees have eased BTC miners’ post-halving stress, but they now feel the pressure of reduced miner rewards. Markus Thielen, head of 10x Research, expects miners to liquidate around $5 billion worth of BTC in the coming months. Cryptocurrency exchange Deribit made a similar point about X, discussing an options strategy called the “bear call spread.” Bitcoin hits lower highs and miners facing dwindling revenues and fees are pressured to sell their assets.