Why Massive Bitcoin Miner Outflow Has This Top Quant Analyst “Scared”
Bitcoin price is still hanging onto $18,000 and is only a couple of grand shy of finally taking out $20,000 and beginning the new bull market. But BTC miners that should be holding in advance of mark up, are suddenly moving massive quantities of the cryptocurrency, and it has a top industry quantitative analyst “scared” […]
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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....
Bitcoin price is still plummeting from a rejection at new highs set this weekend, and struggling to maintain support at former resistance levels. On the way down, the buying pressure has been far less than it was on the way up, which has one top cryptocurrency quant analyst warning that fresh USD capital is necessary […]
On-chain data suggests Bitcoin miners seem to have dumped big recently as their outflow has spiked to the largest value since more than a year ago. Bitcoin Miner Outflows Have Observed A Large Spike Recently As pointed out by an analyst in a CryptoQuant post, F2Pool miner wallets transferred a huge amount of coins shortly […]
As Miner Capitulation in the crypto market slowly comes to an end, a crypto analyst maintains an optimistic future outlook on the price of Bitcoin (BTC), the world’s largest cryptocurrency. The analyst has set a massive $200,000 price tag for BTC, marking a new all-time high for the pioneer cryptocurrency. Bitcoin Price Set To Hit […]
A quant has explained how a rally could be possible for Bitcoin in this third quarter of 2024 as miner selling pressure has disappeared. Bitcoin Miners Appear To Have Stopped Their Selling In a CryptoQuant Quicktake post, an analyst has talked about how the selling pressure concerns from miners have resolved recently. There are two on-chain indicators of focus here. Related Reading: Shiba Inu ‘Underbought,’ While Bitcoin ‘Overbought’ Recently: Santiment The first of these is the “Miner to Exchange Transactions,” which, as its name suggests, keeps track of the total number of....