Bitcoin miner reserves fell to approximately 1.832 million BTC, the lowest point since May
According to CryptoQuant data, following a large number of withdrawals this week, the Bitcoin reserves of cryptocurrency miners have dropped to the lowest point since May. This indicates increasing selling pressure, as miner reserves measure the amount of tokens held in subsidiary miner wallets and may foreshadow sell-offs as tokens are transferred to cryptocurrency exchanges. Currently, Bitcoin miners hold approximately 1.832 million BTC reserves, which is lower than the peak of 1.845 million in October. Previously, AliCharts pointed out in a social media post that miners had sold 3,000 Bitcoins (BTC) in the past 24 hours, equivalent to about $129 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Roam Super Staking Pool and New Points System to Launch Soon, Deflationary Points Unlock Higher Returns for Users
Trending news
MoreCrypto prices
More
