Blockware's Mitchell Askew: Bitcoin sell pressure exhausted, halving cycle losing influence
- —About 14.7 million BTC have not moved in over six months, down from a record 15 million in July
- —Miners produce $20–30 million of BTC daily while daily trading volume runs into billions
- —A hash rate drop from 1 to 0.8 zettahash does not affect network security
- —Askew: even a halving of miner rewards in 2028 will not move daily trading volumes
Why it matters: Shrinking supply held by long-term holders reduces sell pressure and supports the bullish case for BTC.
Source: TokenPost