Bitcoin Miners Have Started Selling, Bear Market Ahead?
Bitcoin on-chain data has revealed that miners have started selling more BTC on exchanges, an indicator that a bear market could be ahead. Miners To Exchanges Flow Has Sharply Risen As pointed out by a CryptoQuant post, the all miners to all exchanges flow mean for Bitcoin seems to have sharply risen this past weekend. […]
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Bitcoin’s value against the U.S. dollar lost 7.3% during the last 24 hours after more than $600 million in value was removed from the $1.07 trillion crypto economy. Statistics show that a number of bitcoin miners capitulated over the last two weeks, selling 5,925 bitcoin worth millions, according to cryptoquant.com data.
More Than 6,100 Bitcoin Sold Since the First of the Month, Following a Brief Miner Capitulation Pause
Bitcoin’s U.S. dollar value slid from $23,593 per unit to $21,268 per coin at 8:30 a.m. (EST) on Friday morning. More than $600 million has been....
For the longest time, bitcoin miners have held on to the spoils of their activities. That is when the profitability of mining the cryptocurrency was still high. Due to a high cash flow, these miners could afford to hold on to a good portion of their rewards while being able to still carry out their operations. However, recent market trends have tanked the profitability of bitcoin mining, leading miners to start dipping into their BTC stash and selling to keep operations alive. Bitcoin Miners Are Selling A good number of bitcoin miners had held on to the considerable bags mostly through the....
Bitcoin miners have borne the brunt of the bear trend since it began. They watched cash flow plummet on their machines, forcing them to look to other ways to finance their operations. The natural response to this was for public miners to dip into their bitcoin reserves and begin selling off BTC to keep their operations going. For a time, it seemed miners would stop selling due to the recovery in price, but this is proving not to be the case. Miners Offload More BTC Bitcoin miners had sold off more bitcoin than they had mined for the first time in May. The same trend then continued into....
Data shows that Bitcoin miners have ceased taking profit and have started to once again hoard BTC for the first time since mid-to-late December 2020. What’s notable about this, is the fact that the leading cryptocurrency by market cap appreciated in price by more than double during the sustained selling. If that’s the case, what […]
Hash rate hit an all-time high, miners seem to be done selling bitcoin, institutions are still interested and long-term holders continue to stack sats.