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According to analytics firm Santiment, Bitcoin miners have sold more than $8.55 billion worth of Bitcoin in the past two days, the largest distribution of Bitcoin by miners in 10 months.

Despite the massive sell-off, large investors are still buying. Santiment sees this as a neutral sign.

The firm also points to Bitcoin’s price correlation with the S&P500 index, and believes that a break of this correlation could be a bullish sign for Bitcoin. Historically, cryptocurrencies have performed better when they are less dependent on global stock markets.