According to CoinMetrics data, the number of Bitcoin miners holding coins fell to 1.794 million this week, the lowest level since the beginning of 2021. The data shows that miners' coin balances have decreased by 27,000 coins since November 2023, which means that miners have continued to sell in the months before the Bitcoin halving. The decrease in miners' coin balances is in stark contrast to the steady accumulation of about 25,000 BTC in the five months before the last halving (May 11, 2020), which may be affected by the rise in Bitcoin prices. According to Wintermute, an algorithmic trading company and well-known market maker, this increase enables miners to profit at higher prices and fund equipment upgrades to prepare for the reduction in reward rates after the Bitcoin halving. (Coindesk)