⛏️ Are miners no longer putting pressure on the market?
Take a look at the chart from CryptoQuant: BTC outflows from miners’ wallets (Miner Outflows) are falling sharply. The last major spike in selling was back in late August (29K BTC), and now the trend is clearly declining.
Essentially, the market has gotten rid of one of the main and persistent sources of downward price pressure. Miners are shifting into accumulation or wait-and-see mode, which is usually a very positive signal for the next move.
When miner supply dries up, any surge in demand pushes the price up much faster 🚀
What do you think—are we waiting for a new rally, or will the market keep moving sideways?
#ReusedBitcoinAddressesHold4.33MBTC
#IMFSaysTokenizedMarketsSmall
#VitalikWarnsAICouldWeakenCryptographySecurity
#FedMinutesFocusOnOctoberPause
$BTC
Take a look at the chart from CryptoQuant: BTC outflows from miners’ wallets (Miner Outflows) are falling sharply. The last major spike in selling was back in late August (29K BTC), and now the trend is clearly declining.
Essentially, the market has gotten rid of one of the main and persistent sources of downward price pressure. Miners are shifting into accumulation or wait-and-see mode, which is usually a very positive signal for the next move.
When miner supply dries up, any surge in demand pushes the price up much faster 🚀
What do you think—are we waiting for a new rally, or will the market keep moving sideways?
#ReusedBitcoinAddressesHold4.33MBTC
#IMFSaysTokenizedMarketsSmall
#VitalikWarnsAICouldWeakenCryptographySecurity
#FedMinutesFocusOnOctoberPause
$BTC