CryptoQuant analyst Crypto Dan pointed out that both the frequency and volume of withdrawals from Bitcoin wallets by miners have recently declined. The market is gradually digesting the selling pressure from miners, with Bitcoin expected to initiate a new uptrend in Q3.
In a subdued market sentiment as June draws to a close, Bitcoin has retreated from $71,900 earlier this month to $61,575, marking a nearly 10% pullback.