On-Chain Analyst Says Bitcoin Miners Taking Profit Won’t Prevent Bull Run

Historically speaking, some miners tend to start selling their various Bitcoin (BTC) holdings by the end of July. Ever since, Bitcoin has been hard-pressed in order to retake the price range of $12,000 Ki Young Ju stands as the CEO of CryptoQuant, and claimed that the ongoing selling pressure caused by miners might not be enough to stop an upcoming bull run.

Data analysis firms on-chain have been watching the movements of both whales and miners closely, due to the large holdings of BTC they have. Should miners start to sell their various BTC holdings, typically as a bid to cover expenses, it might very well cause a correction movement within the crypto market at large.

Timeline of Bitcoin