According to Onchain Lens, mining company Riot Platforms deposited 500 BTC (valued at $29.48 million) into a NYDIG custody address, interpreted as a likely prelude to selling. The large transfer could exert short-term downward pressure on Bitcoin's price.
Blockchain monitoring platform Onchain Lens reports that mining firm Riot Platforms has deposited 500 Bitcoin (worth approximately $29.48 million) into a NYDIG Custody address. The transfer is widely interpreted as a preparatory step for a potential sale, signaling possible selling pressure on BTC in the near term.
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