This Metric Suggests Bitcoin Miners Rarely Catch The Cycle Top
A look at the history of the Miner’s Position Index (MPI) would suggest Bitcoin miners usually sell before the bull run cycle top. The Bitcoin Miner’s Position Index Vs The Price For Various Cycles As pointed out by a crypto analyst on CryptoQuant, the BTC Miner’s Position Index may suggest that miners aren’t good at […]
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Cold hard numbers are showing why Bitcoin moons and dumps — and the reasons are more straightforward than you might imagine. Bitcoin (BTC) is still at the “low end” of a 2021 bubble, new data tracking miner and investor behavior suggests. In the latest signal that BTC price action still has major growth potential, researcher Geert Jan Cap showed bullish signs coming from Bitcoin’s thermocap. Thermocap suggests Bitcoin just getting startedThermocap is a metric which aims to track Bitcoin price cycles based on actions taken by miners and investors with regards to buying and selling BTC.It....
Bitcoin miners caught a small break late Sunday evening (ET) after the network’s mining difficulty dropped 0.20% lower than the difficulty rating two weeks prior. The drop is the first mining difficulty decrease in four weeks, as the metric changed from 36.84 trillion to 36.76 trillion.
Bitcoin Miners Catch a Miniscule Break as the Network’s Difficulty Shrinks by 0.20%
Bitcoin’s mining difficulty is still extremely high in comparison to the height it was in mid-August 2022. For instance, on Aug. 17, 2022, just before the year’s third largest....
Top Quant uses the puell multiple to point out a pattern that explains why the current Bitcoin bull cycle is only in the first phase. The Bull Market Is Not Over, Phase 1 Has Just Begun According to a CryptoQuant analyst, past cycles show that the current Bitcoin bull market isn’t over yet. The puell multiple seems to reveal where the price might head next. The puell multiple is a BTC indicator used to tell how healthy miners’ revenue is. It’s calculated by dividing the mining revenue by the 365-day moving average (MA) of the same. Puell Multiple= Mining Revenue USD ÷ 365....
Bitcoin on-chain data shows that miners have transferred a huge amount of coins to cryptocurrency exchanges. On-chain Data Suggests Miners Transferred 11,816 BTC To Exchanges As pointed out by a CryptoQuant post, 20 July saw a huge outflow from Bitcoin miners. The total outflow from that day is around 12k. Here is a chart that illustrates the trend in all miners BTC outflow over the last one year: BTC miner outflow seems to have spiked There are a few interesting features in the chart. This sudden rise of almost 12k BTC observed on Wednesday is the most since May, when the price of the....
On-chain data suggests Bitcoin miners have been quietly accumulating while the rest of the market has been bleeding. Bitcoin Miner Reserve Continues To Stay At High Values Despite Struggling Price As explained by an analyst in a CryptoQuant post, BTC miners seem to have continued to accumulate while the price has declined in the past few weeks. The “BTC miner reserve” is an indicator that tells us the total amount of Bitcoin present in the wallets of all miners. When the value of this indicator goes up, it means miners are transferring a net amount of coins to their reserves.....