- Pin
- 🗒 Gate.io Suggested Topics Posting Event: #NFP Data Release#
✍️ Please include the topic #NFP Data Release# in your post
💰 5 quality posters * each receive $10 Points
The Non-Farm Payroll (NFP) data is set to be released on May 2nd. As a key economic indicator, it often has a significant impact on market sentiment. How do you think this upcoming report will influence the crypto market’s direction? Are you bullish or bearish?
Post with the hashtag #NFP Data Release# to share your insights or analysis to share the $50 reward pool!
⏰ Event Time: April 30, 4:00 AM - May 1, 4:00 AM (UTC)
⚠️ Note
- 🎉 Gate.io Growth Points Lucky Draw Round 🔟 is Officially Live!
Draw Now 👉 https://www.gate.io/activities/creditprize?now_period=10
🌟 How to Earn Growth Points for the Draw?
1️⃣ Enter 'Post', and tap the points icon next to your avatar to enter 'Community Center'.
2️⃣ Complete tasks like post, comment, and like to earn Growth Points.
🎁 Every 300 Growth Points to draw 1 chance, win MacBook Air, Gate x Inter Milan Football, Futures Voucher, Points, and more amazing prizes!
⏰ Ends on May 4, 16:00 PM (UTC)
Details: https://www.gate.io/announcements/article/44619
#GrowthPoints#
Profit-Taking Surge: Bitcoin Miners and Ethereum Whales Cash Out Amid Price Rallies
TL;DR
Miners, the backbone of the largest proof-of-work blockchain network, are generally bullish. They tend to hold to their BTC during market rallies. However, they sometimes lock in profits during market uncertainty, especially if they have to cover some costs.
Following the massive turbulence experienced in the past several weeks due to Trump’s Trade War, when BTC’s price tumbled to a multi-month low of under $75,000, miners decided to secure some profits after the cryptocurrency added nearly $20,000 since April 9.
More specifically, they locked in around $18.6 million in profits as bitcoin jumped above $93,000 earlier this week, said Ali Martinez.
The landscape around Ethereum is more dire. As previously reported, many long-term ETH investors, such as Galaxy Digital, had decided to dispose of large portions of their ether holdings.
More recent data shared by the same analyst indicates that 305,000 ETH (valued at roughly $540 million at today’s prices) was moved to exchanges within just a week, which is typically a sign for future sales.
Additionally, Martinez said Ethereum whales started selling again after the recent trend reversal, offloading more than 63,000 ETH within just two days. In USD terms, this stash equals $110 million.
ETH’s price tumbled at the start of the month to $1,400, thus erasing roughly seven years of gains. It jumped past $1,800 earlier this week, which has allowed these investors to capitalize on the recent price surge.