QCP Capital: Miners face immense selling pressure due to the rise in breakeven prices after the halving

ChainCatcher news, QCP Capital stated that miners are under immense selling pressure due to the rise in the breakeven price after the halving. Miners' BTC holdings have dropped to the lowest level in the past 14 years, with total reserves decreasing by 50,000 since the beginning of the year. The market is also feeling panic due to the emergence of new large supplies. It is reported that the German government sold about 3,000 bitcoins in the past few days and will sell another 47,000 bitcoins in the future.