Bitcoin (CRYPTO:BTC) miners are facing significant pressure to sell their holdings due to decreased revenues from mining rewards and transaction fees, exacerbated by the recent halving event.

This sell-off potential could have profound effects on the cryptocurrency market, particularly given the current low liquidity.

Major mining giants like Marathon Digital holding substantial amounts of Bitcoin could trigger significant market movements if they decide to liquidate even a small portion of their holdings.

With Bitcoin's network activity showing signs of slowing down and short-term technical analysis suggesting a possible decline towards the $60,000 range, the market braces for potential volatility.

Meanwhile, crypto analyst Ali Martinez projects a bullish rise toward $76,610 if Bitcoin can reclaim $64,290 as a support level.