Miners are considered the backbone of the Bitcoin market, with their actions providing vital clues about market health. Recently, miner balances have continued their decline, hitting levels not seen since April 2019. This trend, however, took an interesting turn over a few specific days in July. July 13 and 14 experienced net inflows of 241 BTC and 645 BTC, hinting at a sudden accumulation. This was quickly followed by a substantial outflow on July 17, where miners sold 2,126 BTC. What prompted this significant move? To find out...
Miners reduce holdings amid rising prices Miners reduce holdings amid rising prices
Miners have been cashing in on rising Bitcoin prices, decreasing their balances to lows not seen since April 2019.
3 min read
Updated: Jul. 19, 2024 at 3:44 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
