Bitcoin miner reserves can often be a tell for where the market could be headed next due to their large holdings. These reserves going up or down can pinpoint how miners are looking at the market, and a drop in their reserves can be bad for the BTC price.
Miners Reserves Drop By 14,000 BTC
Bitcoin miners, who are responsible for confirming transactions on the blockchain and keeping the network safe, seem to be turning toward selling rather than accumulating. According to a CryptoQuant report, these miner reserves have seen a notable drop since 2024 began.
Their holdings dropped by 14,000 BTC in less than two months, suggesting that these miners have been selling some of their stash. Going by an average price of $43,000 since January 2024, this means that Bitcoin miners have sold over $600 million worth of BTC so far. As a result of this, miner reserves are currently sitting at 1.8 million BTC, which is the lowest level since June 2021.
Bitcoin miners selling their coins are not new bec
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