Miners reduce holdings amid rising prices

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...