Bitcoin Miners Hold Off On Selling As Their Reserves Reach 2021 High
On-chain data shows Bitcoin miner reserve is growing as miners are accumulating BTC. The Puell Multiple confirms that miners don’t want to sell at the current price level. Bitcoin Miner Reserves Grow To Highest Value For The Year As pointed out by a CryptoQuant post, BTC miner reserve has been going up as miners seem to be waiting before selling. There are two indicators of relevance here. The first is the “miner reserve,” which is a metric that simply measures the amount of Bitcoin that miners are currently holding in their wallets. An uptrend of this indicator implies....
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On-chain analysis shows Bitcoin miner reserves seem to be closing in on the ATH seen in May, as the BTC bull rally continues. Bitcoin Miner Reserves Reach Close To May ATH Levels As pointed out by a CryptoQuant post, the BTC miner reserves seem to be on the rise, and look to be close to the levels seen during the 9 May all-time-high (ATH). The BTC miner reserves is an indicator that shows how many coins miners are holding in their wallets. More the value of this metric, less the selling pressure for miners in the market. Related Reading | S2F Creator Beckons Beginning Of Second Leg Of....
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....
Data shows the Bitcoin miner reserves have continued to trend downwards recently, suggesting that miners have been dumping their coins. Bitcoin Miners Have Been Withdrawing From Their Wallets In Recent Days As pointed out by an analyst in a CryptoQuant post, BTC miner reserves have been observing negative change recently, something that could lead to a decline in the price of the crypto. The “miner reserves” is an indicator that measures the total amount of Bitcoin currently present in the wallets of all miners. When the value of this metric goes up, it means miners are....
Bitcoin mining profitability has been dropping along with the market decline. The cash flow from the mining rigs has become increasingly stunted over time, causing bitcoin miners to begin selling their holdings to cover the cost of their operations. But even as this rages on, there is a bigger issue that could threaten the recovery that BTC has made so far, which is the fact that larger miners may be forced to liquidate their holdings. Bitcoin Miners Can’t Meet Up Usually, bitcoin miners are known for holding the coins that they realize from their activities. Since miners are not buying....
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....