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Bitcoin price has surged above $45,000 in the last 24 hours. The rise is attributed to a decrease in BTC sales by miners. According to on-chain analysis, major Bitcoin mining companies in the US are increasing their BTC holdings.
According to data from CryptoQuant, there has been a significant decline in miner sales since November 2023. Additionally, Marathon Digital, one of the large mining companies, has been gradually increasing its BTC holdings. However, despite this, the number of transactions on Bitcoin has fallen from 731,000 to 278,000 per day. This represents the lowest level in the last 3 months.
https://coinengineer.net/bitcoin-recovers/
Bitcoin’s rise led to a $114 million liquidation. This means that a significant amount of leveraged positions were liquidated.