The share of miners sent by …

The share of bitcoins sent by miners to exchanges fell to an annual low

In the second quarter, bitcoin miners reduced their transfers to cryptocurrency exchanges to the lowest level in the last 12 months, according to a report from CoinDesk. On May 20, the share of bitcoins sent by miners to exchanges fell to 15%, or a 365-day low. The indicator decreased from April to June.

“It looks like at least miners are counting on being able to sell their bitcoins higher in the coming months,” analysts write..

It is noteworthy that miners continued to restrict transfers even at a time when the bitcoin price stopped showing significant changes after halving and was limited by the $ 9,000 – 10,000 channel.

Analysts say the data is consistent with forecasts suggesting that the exchange rate will rise in the foreseeable future. So, Bloomberg Crypto in its report for May wrote that by the end of the year Bitcoin could rise to historical highs of about $ 20,000.

The share of miners sent by ...

At the same time, ByteTree founder Charlie Morris doubts that the accumulation of bitcoins by miners should be considered a bullish sign. According to him, miners do this when they believe that the market is not able to absorb their supply without a significant depreciation..

So far, bitcoin is not showing readiness to grow, despite the falling pressure from miners. In recent days, the cryptocurrency has shown a moderate decline, again returning to values ​​around $ 9,000.

The share of miners sent by ...

Similar articles

  • Ethereum price exceeded for the first time…

    Ethereum crossed $ 1,000 for the first time Ethereum broke the $ 1,000 level for the first time this Thursday, thus completing a whole series of records,…

  • Bitcoin dropped $ 1,000 after…

    Bitcoin drops $ 1,000 after hitting a local high of around $ 18,500 The first sharp decline occurred on Bitcoin’s path during the last…

  • Exchanges record a sharp influx…

    Exchanges record a sharp inflow of assets in Bitcoin Cash amid the upcoming fork The Bitcoin Cash network will be hard forked on November 15. Expected that…

  • The researchers named the hour of the day…

    Researchers have named the hour of the day when Bitcoin is characterized by the highest volatility Analysts of the LongHash portal have estimated the hourly volatility of Bitcoin for…

  • Bitcoin will drop to $ 1,000 in this…

    Bitcoin Falls To $ 1,000 This Year – Wall Street Investor Peter Prikvar, Investment Director of Bleakley Advisory Group, believes that Bitcoin can…