Bitcoin miners are selling Bitcoin to sustain their livelihood amidst BTC price fluctuations

According to data from CryptoQuant, earlier this month, the outflow of BTC from miners reached a peak of 19,000 bitcoins per day, the highest level since March. One reason for this is that after the halving event in April, it became more difficult to make a profit from mining. Moreover, as mining becomes more difficult, mining operations need to work harder. CryptoQuant stated: "In fact, we may have seen a miner capitulation event last week because after prices briefly touched $49,000 USD , there was a surge in capital outflows from miners." "We may still see further selling by miners because they are not getting their due rewards under conditions of low prices and high mining difficulty."