Bitcoin Miners Cash In as BTC Soars Past $90K Milestone

In the past 24 hours, Bitcoin prices have seen a staggering growth adding over 7 percent reaching above the mark of $90k. As per market experts, it will further grow but the path to cross the hurdle of $100k seems a little tough, yet it might reach new heights by 2025. 

The on-chain activities indicate that dozens of Bitcoin investors had made millions and even billions after it surpassed the mark of $90k. 

CryptoQuant’s head of Research noted that in the past 24 hours, several Bitcoin miners have offloaded their holdings in order to gain profit as BTC reached new heights.  

Julio Moreno added that over the few hours around 25,000 BTC has been transferred by miners from their wallets to different exchanges and other payment aggregators in order to book significant profits over their holdings.

At the time of writing it was trading at $90,956 in the past 24 hours it was highest traded at $93,233. 

BTC’s market capitalization reached $1.79 million growing over 3.47 percent, market experts argue that its capitalization will soon surpass the GDP of some developing and underdeveloped nations. 

Earlier this week it was reported by two leading Bitcoin miners that their BTC has surged significantly after the fourth halving that occurred in April this year.

BTC/USDT and BTC/FDUSD remain the highest traded pair of Bitcoin intraday time frame. At the same time, its prices were trading above 20,50,100, and 200 days EMA.

According to data from CoinMarketCap, the trading price of BTC has surged 20.98 percent in the past seven days, and over 38 percent in the past one month.

It is worth noting that the cryptocurrency market capitalization has surged 2.91 percent in the past 24 hours, reaching $2.98 trillion. 

The intraday gainer’s list has been topped by Pepe (Pepe) which grew 59.76 percent reaching $0.00002126 followed by Mog coin, Dogwifhat, Brett, Popcat, Bitcoin SV, Bonk including several others.

However there were several that lost a significant portion of trading prices, the losers list is ruled by Aerodrome Finance, Maker, Aptos, Bittensor, Kaspa, Cronos, Celestia Artificial Intelligence Alliance, and others.

After Trump’s victory one of the most prominent cryptocurrencies, Ethereum prices saw a growth surpassing the mark of $3,100 until publishing it was trading at $3,182 with a weekly growth of 12 percent and monthly growth of 22 percent. 

The sudden stir and spike in prices of cryptocurrencies has raised speculations among enforcement agencies and regulators for some reported illegal or money laundering. Per a recent report, the FBI has raided the place of Polymarket CEO resulting in the seizure of smartphones and other electronics.

Before the results of the presidential elections, Polymarket came into controversy over the manipulation of displayed prediction results and betting amounts. The platform and its founder and CEO allegedly favored Trump.  However, the claims will remain bogus till they aren’t confirmed by the accused ones.