Report: If Bitcoin rebounds to $7,500 after halving, market selling pressure will drop from 46.67% to 31.11%

According to AMBcrypto, a recent report said that miners' capitulation after Bitcoin halving will reduce Bitcoin's selling pressure. If Bitcoin rebounds to $7,500 after halving, market selling pressure will drop from a high of 46.67% to 31.11%.
The report said that many miners shut down their operations when profit margins could not keep up with electricity expenses, so the selling pressure of Bitcoin from miners' terminals continued to increase throughout the network. However, only inefficient miners will succumb and let efficient miners take control.
Assuming Bitcoin rebounds to $7,500 after the halving, newly mined Bitcoin will be distributed among efficient miners. This will reduce the selling pressure on Bitcoin's valuation, as these miners are above its breakout price due to lower electricity expenses. When prices rise, many miners may try to return to the market, but a certain degree of friction will be created in the process. When miners shut down their systems during a price drop, they will not be able to resume operations during a price increase.
Therefore, while Bitcoin’s valuation continues to rise after another difficulty adjustment, efficient miners are still in a favorable position to accumulate more Bitcoin because they did not shut down during the sell-off.

Source: blockwaresolutions

Source link: https://eng.ambcrypto.com/bitcoins-halving-could-trigger-a-coup-de-grace-among-miners