Bitcoin in Miners’ Wallets Is Declining
The amount of Bitcoin held in miners’ wallets continues to trend downward. Miners may have moved their assets to exchanges.
The Miner Position Index is well above its historical average, which may be considered a strong selling signal. Selling pressure from miners could increase.
Given that miners’ daily revenue is close to its long-term average, we can assume that miners may sell more Bitcoin to cover their expenses.
Miners periodically sell Bitcoin to cover their operating costs. This possibility is becoming more likely as miner outflows remain high. In particular, these outflows being historically elevated is a warning sign for the price. $BTC #Bitcoin
The amount of Bitcoin held in miners’ wallets continues to trend downward. Miners may have moved their assets to exchanges.
The Miner Position Index is well above its historical average, which may be considered a strong selling signal. Selling pressure from miners could increase.
Given that miners’ daily revenue is close to its long-term average, we can assume that miners may sell more Bitcoin to cover their expenses.
Miners periodically sell Bitcoin to cover their operating costs. This possibility is becoming more likely as miner outflows remain high. In particular, these outflows being historically elevated is a warning sign for the price. $BTC #Bitcoin
