Bitcoin miners ‘next trigger’ for BTC price crash as outflows hit multi-month...
Miners face an impossible situation if prices stay this low, which could result in a sell-off accompanied by a BTC price macro low. Bitcoin (BTC) miners could form the next BTC price “trigger,” research warns as withdrawals intensify.In a Quicktake post for on-chain analytics platform CryptoQuant on Nov. 10, contributor MAC.D suggested that miners could soon face “bankruptcy.”Research: Network conditions “will strangle” minersAfter BTC/USD fell 20% in a matter of days, miners began operating at a higher cost than the block subsidy and transaction fees they earned.The result is mining rigs....
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On-chain shows Bitcoin miner outflows have been elevated recently, suggesting miners were involved in the recent selloff that took the price of the crypto below $42k. Bitcoin Miner Outflows Spiked Up Before The Crash Below $42k As pointed out by an analyst in a CryptoQuant post, BTC miners seem to have been one of the sellers behind the price drop to $42k. The relevant indicator here is the “miner outflow,” which measures the total amount of Bitcoin exiting wallets of all miners. When the value of this metric spikes up, it means miners are moving a large number of coins out of....
Bitcoin on-chain data shows that the BTC outflows have been gradually heading downwards recently, hinting that a crash could be coming soon. On-Chain Data Shows BTC Outflows Continue To Decrease As pointed out by an Analyst on Twitter, on-chain data reveals Bitcoin outflows have been gradually going down in the past month. The relevant metric here is the BTC netflows. This indicator shows the net amount of coins exiting or entering exchange wallets. Its value is calculated by taking the difference between the inflows and the outflows. When the netflow shows negative values, it means....
The XRP price saw a rise in value over the weekend as bulls seemed to return to the table. Since the market has been low over the past few months, investors unsurprisingly took this as an opportunity to get out at a somewhat higher price. This has led to more negative networks over the last few days, adding even more red to the month of April that has been dominated by outflows. XRP’s April Outflows Cross $300 Million According to data from Coinglass, XRP has been struggling with negative net flows for the better part of April, recording more red days than green. Even the green days have....
On-chain data shows Bitcoin miners have continued their selling as outflows from their wallets have once again spiked up. More Than 2.5k BTC Flows Out Of Bitcoin Miners’ Reserve As pointed out by an analyst in a CryptoQuant post, BTC miners from Poolin look to have sold big over the past 24 hours. The “miner […]
Small and retail investors are not the only ones getting hit hard by the Bitcoin crash. Institutional investors are also feeling the heat of the market crash. This has sent the institutional investors running as inflows had halted for the last week. Outflows from crypto and blockchain-related investments grew steadily over the course of the weeks, totaling more than $100. million. Institutional Investors Stay Away The institutional outflows for last week have been concerning for crypto investors but in no way surprising. With the emergence of the ‘crypto winter’, it has signaled that the....