QCP Capital: Miners face huge selling pressure as breakeven prices rise after halving

QCP Capital stated that due to the increase in the breakeven price after the halving, miners are under tremendous selling pressure. The amount of BTC held by miners has dropped to the lowest level in the past 14 years, and the total reserve has decreased by 50,000 since the beginning of the year. The market is also panicked by the appearance of new large supplies. It is reported that the German government has sold about 3,000 bitcoins in the past few days and will sell another 47,000 bitcoins in the future.