@arvinwtatt

Higher difficulty raises marginal mining costs; if BTC price does not compensate, marginal miners may liquidate reserves to cover expenses or exit. Short-term, increased miner selling is possible during difficulty ramps, particularly among smaller operations. But efficient miners hedge, diversify revenue (fees, staking alternatives), or absorb temporary cuts. Large, entrenched miners often have longer horizons. Net selling pressure from difficulty increases is conditional on price, miner margins, and access to financing.

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