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The data on the series shows that Bitcoin miners have continued to create large exchange deposits recently, a sign that could be downward for BTC price.
Bitco Miner Excination Netflow was seeing positive screws
In new mail On X, the author of the Cryptoquant IT Tech discussed the last trend in Bitcoin miners to exchange the flow for the exchange to the Miner Flow Metric. This indicator, as its name suggests, measures that Netflow occurs between the governor associated with mines and central exchanges.
When the value of this scale is positive, this means that miners deposit a clear number of symbols on these platforms. In general, this chain health is transmitted to the stock exchanges whenever they want to sell, so this type of trend can have a decreased effect on the price of the original.
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On the other hand, the index with a negative value means that Excination Exchange flows outperforming mining flows. Such a trend indicates that this regiment may accumulate, which can be naturally ascending to BTC.
Now, here is the graph that shows the direction in Bitcoin miners to exchange a flow for the exchange of miners flow during the past year:
As shown in the graph above, the index has recorded great positive values since the bull gathering of the last two months of 2024, which means that miners deposit these platforms.
The scale was also marked during this period, but their size was much lower compared to clear flows. Given that the deposits started when the gathering started, it seems likely that the motivation behind it was for the purposes of achieving profits.
Nevertheless, though, the bullish momentum has seen slowing and the price of BTC decreased, but mining flows have continued with this. This group is likely to be just selling panic, for fear of the bear market.
Miners are entities involved regularly in distribution, due to the fact that they have fixed operating costs in the form of electricity bills that they have to pay in one way or another. This sale is usually not absorbed by the market, so Bitcoin is not much affected.
In periods where the sale of important mines is, BTC can already suffer from a drop setback. Compared during the gathering in the past year, Miner’s flows are currently less, but are prominent. “If the sale of a mine sells, it can make short -term fluctuations in the market,” the analyst notes.
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It remains now to see what Bitcoin miners will do then and whether their potential sale will have any effect on the original or not.
BTC price
At the time of writing this report, Bitcoin floats around $ 83,400, with an increase of approximately 6 % in the past seven days.
Distinctive image from Dall -e, Cryptoquant.com, Chart from TradingView.com
The post Bitcoin Miner Selling Still Elevated, On-Chain Data Shows first appeared on Investorempires.com.
