Bitcoin Miner Reserves Close To May ATH As Bull Rally Continues
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....
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The web portal bitcointreasuries.org now shows close to two dozen firms with a large number of bitcoin reserves. Currently, the aggregate total bitcoin held in reserves by the 23 companies listed is roughly 785,999 BTC worth well over $10 billion dollars. This past August the billion-dollar firm Microstrategy announced it purchased 21,454 BTC for around $250 million. Then the Nasdaq listed company bought another 16,796 BTC and Microstrategy raised its reserve status to 38,250 bitcoins. Following Microstrategy’s lead during the first week of October, the firm Square Inc. revealed it....
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 transaction fees are usually an indication of how holders are moving their coins around. When the network gets congested due to a high number of transactions, the transaction fees go up, indicating a high volume of traffic on the network. Transaction traffic usually is high around bull markets when the price of the digital asset is up. Usually leading to a sell-off as investors try to take profits. Related Reading | Bitcoin Suffers As Mid Caps Cryptos Establish Market Dominance With Wide Margin One thing, this recent bull market has been anything but usual. So many things that....
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....
Data shows Bitcoin trading volume has been on a decline recently, here is what it mean for the current BTC bull rally. Bitcoin Trading Volume Continues To Decline As per the latest report from Arcane Research, the 7-day average BTC trading volume has been on a decline this month. and is now close to $4 […]