On-Chain Data Shows Bitcoin Miners Hold Off On Selling Despite BTC Rallying A...
According to on-chain data, Bitcoin miners seem to be holding off on selling BTC despite the recent rally where the coin has crossed $57k. Bitcoin Miner Reserves Continue To Move Sideways As pointed out by a CryptoQuant post, BTC miner reserves continue to trend sideways amid the coin’s strong move up. The “miner reserve” is a indicator that shows the total amount of Bitcoin that miners are currently holding in their wallets. An increase in the metric’s value suggests miners think the coin’s value will go up in the near future, hence they are stocking up on....
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On-chain data shows Bitcoin miners have continued their selling as outflows from their wallets have once again spiked up. More Than 2.5k BTC Flows Out Of Bitcoin Miners’ Reserve As pointed out by an analyst in a CryptoQuant post, BTC miners from Poolin look to have sold big over the past 24 hours. The “miner […]
On-chain data shows that selling pressure from Bitcoin miners has recently slowed down. This is significant considering the impact it could have on Bitcoin’s price heading into the third quarter of the year. Bitcoin Miners’ Selling Pressure Has Significantly Declined Referencing data from the on-chain analytics platform CryptoQuant, crypto analyst Crypto Dan noted that selling pressure from miners has significantly declined for two reasons. One is that the quantity of Bitcoin these miners sent to exchanges to sell has reduced drastically since May. Related Reading: Dogecoin Flashes Major....
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....
On-chain data shows miners have sent a never-before-seen amount of Bitcoin to exchanges as the crypto touches $55k. Bitcoin Miners Send An Unusual Amount Of Coins To Exchanges As pointed out by a CryptoQuant post, on-chain data shows miners have sent an unprecedented amount of Bitcoin to exchanges. The indicator of relevance here is the […]
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....