Bitcoin, the world's largest cryptocurrency, has been on a rollercoaster ride recently. After reaching $69,000 yesterday, it plummeted due to announcements from the US. This volatility has also affected miners, who are essential to the cryptocurrency market. To cover rising costs, miners are selling their Bitcoin, which could lead to a new wave of selling and accelerate the decline in Bitcoin's price.

According to CryptoQuant, a cryptocurrency analytics platform, there has been an increase in mining pool transfers, indicating that miners are selling their Bitcoin. This selling pressure could negatively impact Bitcoin's price in the short term. However, some analysts believe that Bitcoin could reach $100,000 by the end of June, driven by demand from spot Bitcoin ETF issuers.

The halving event in April increased mining costs to $77,000, leading to a surge in sales transactions in the sector. Miners' revenues have dropped by 55% compared to the all-time high, coinciding with the period of selling. Bitcoin transaction fees have also decreased significantly. Despite the current selling pressure, some experts predict a bull run if demand from spot Bitcoin ETF issuers remains stable.

In conclusion, Bitcoin's volatility has increased due to miner sales, which could lead to a short-term decline in price. However, long-term expectations remain bullish, with some analysts predicting a price of $100,000 by the end of June. The cryptocurrency market is highly unpredictable, andonly time will tell how Bitcoin's price will unfold.