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Wednesday

28 July 2021

Bitcoin Miners Have Started Selling, Bear Market Ahead?

Bitcoin Miners Have Started Selling, Bear Market Ahead?


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Bitcoin on-chain data has revealed that miners have started selling more BTC on exchanges, an indicator that a bear market could be ahead.

As pointed out by a CryptoQuant post, the all miners to all exchanges flow mean for Bitcoin seems to have sharply risen this past weekend.

First is the all miners to all exchanges flow total, which shows the total number of coins sent from miners to exchanges.

Lastly, there is the flow mean that’s defined as the mean amount of BTC transferred from miners to exchanges, and it’s calculated by dividing the flow total with the transactions count.

There have been instances in the history of Bitcoin where the miners to exchanges flow mean going up hasn’t resulted in a crash.

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