Data: Bitcoin Miners Are Quietly Accumulating While The Market Bleeds
On-chain data suggests Bitcoin miners have been quietly accumulating while the rest of the market has been bleeding. Bitcoin Miner Reserve Continues To Stay At High Values Despite Struggling Price As explained by an analyst in a CryptoQuant post, BTC miners seem to have continued to accumulate while the price has declined in the past few weeks. The “BTC miner reserve” is an indicator that tells us the total amount of Bitcoin present in the wallets of all miners. When the value of this indicator goes up, it means miners are transferring a net amount of coins to their reserves.....
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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 […]
Mining operators and holders keep accumulating Bitcoin, according to the latest Kraken intelligence report, titled “Shocktober.” In the report, several metrics allude to a bullish view for the months to come. In contrast, mining pool contributors and small miners have taken profits, these being more prone to sell due to market movements.
‘Shocktober’ Report Paints a Bullish Panorama
A new report issued by the intelligence division of the U.S.-based exchange Kraken suggests that mining operators and long-time holders are actively contributing to....