Bitcoin miners' exchange flow reaches 7-month high as BTC price tanks below $21K
Bitcoin mining profitability has dropped by over 75% from the market top and is currently at its lowest since October 2020. Bitcoin's (BTC) price tanked to a 52-week low of $20,800 earlier on Wednesday, down by over 70% from its all-time high of $68,788. Although the price has since recovered above $21,000, key market indicators point toward bears having a significant hold on the current market.Bitcoin Miners to Exchange flow, a metric that indicates the volume of BTC sent by miners to crypto exchanges, rose to a seven-month high of 9,476. The rise in exchange flows indicates miners are....
Related News
Bitcoin mining profitability has plummeted by more than 75% from the market peak, and is now at its lowest level since October 2020. Bitcoin Price Plummets Further Bitcoin’s price plummeted to a 52-week low of $20,800 on Wednesday, down from an all-time high of $68,788 by more than 70%. Despite the fact that the price has already returned above $21,000, important market indications indicate that bears still have a strong grip on the current market. The Bitcoin Miners to Exchange Flow, a metric that measures the amount of BTC transferred from miners to crypto exchanges, hit a....
Data shows the cash flow of Bitcoin miners has halved since the price all-time high set in early November of last year. Bitcoin Miner Cash Flow Halves As Hashrate Makes New ATH And Price Declines As per the latest weekly report from Arcane Research, the cash flow for BTC miners seems to have halved since […]
Bitcoin has plunged towards the $26,000 level as on-chain data shows the Bitcoin mines have been participating in a selloff. Bitcoin Miner To Exchange Flow Has Spiked During The Past Day As pointed out by an analyst in a CryptoQuant post, the miners have been showing signs of selling recently. The relevant indicator here is the “miner to exchange flow,” which keeps track of the total amount of Bitcoin that miners are depositing to exchanges. Generally, these chain validators only make such transactions when they intend to sell, so the indicator’s value observing a spike....
The Bitcoin exchange fund flow ratio has just hit a nine-month low. Here is what it might mean for the price of the cryptocurrency. The Exchange Fund Flow Ratio The signal of interest here is the all Bitcoin exchanges fund flow ratio. It’s defined as the total amount of BTC flowing in/out of exchanges divided […]
On-chain data shows miners have sent a large amount of Bitcoin to spot exchanges recently, something that can be bearish for the value of the crypto. Bitcoin Miners To Spot Exchanges Flow Has Surged Up Over The Past Day As pointed out by an analyst in a CryptoQuant post, the latest spike in the miner exchange deposits is larger than any other recent peaks. The relevant indicator here is the “miners to spot exchanges flow mean,” which measures the total amount of Bitcoin being transferred by miners to spot exchanges. When the value of this metric shoots up, it means miners have....