Bitcoin Miners Aren’t Responsible for Recent Price Dips, Data Shows
Analysts and mining pools say selling pressure from mining wallets hasn't contributed to recent corrections in bitcoin's price.
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Bitcoin has remained sideways for the last couple of months, tossing between the $88K and $75K levels. It hasn’t made any significant moves to either side. New data from Glassnode shows that short-term Bitcoin holders are sitting on significant unrealized losses. On the other hand, however, long-term $BTC holders are still in profit. Keep reading to find out how Bitcoin can move in the weeks to come. We’ll also suggest some of the best altcoins you can buy to benefit from a potential $BTC rally. Is $BTC Bearish Now? It’s still too early to say that BTC has gone into bearish....
Data shows Bitcoin miners have been selling in recent weeks as their revenues have come under stress due to the struggling price of the crypto. Bitcoin Miners Are Currently Selling An Average Of 3.3k BTC Per Month As per the latest weekly report from Glassnode, miners had been accumulating during the initial drawdown from the […]
On-chain data shows the Bitcoin MPI has spiked up recently, suggesting that miners may have started to dump the crypto. Bitcoin Miners’ Position Index (MPI) Has Sharply Risen Recently As pointed out by an analyst in a CryptoQuant post, some data suggests BTC miners may have began to dump the coin following recent rally. The […]
Interest in Dogecoin (DOGE) has been on a steady decline in the last year and miners have not been exempt from this. Recent data shows that these miners may already be losing faith in the meme coin which they have been offloading in the millions in the last two months. Dogecoin Miners Sell $53 Million […]
On-chain data shows while the price of Bitcoin has continued to struggle recently, miners have shown diamond hands. Bitcoin Miner Reserve Holds Still Amid The Recent Price Consolidation As pointed out by an analyst in a CrypoQuant post, BTC miners have been accumulating for some time now, and the dwindling price hasn’t scared them. The “Bitcoin miner reserve” is an indicator that measures the total amount of coins present in wallets of all miners. When the value of this indicator observes a decrease, it means the supply held by miners is going down. Such a trend may be a....