Analyst Explains Why Ethereum Is Bullish Against Bitcoin

An analyst has explained that the absence of miners on the Ethereum network could be bullish for the ETHBTC ratio. Miners Provide A Persistent Selling Pressure On Bitcoin As explained in a tweet by Tom Dunleavy, a Messari research analyst, BTC miners sell almost all the coins they mine. The below chart contains data about the top ten public Bitcoin mining companies, displaying information such as how much each of them mined this year, the amounts that they sold, and the size of their current holdings: In total, the ten largest mining companies in the space mined a collective 40.7