Bitcoin Miner Inflows Surge: Signs of Potential Selling Pressure Emerge
Bitcoin Miner Inflows Surge: Signs of Potential Selling Pressure Emerge
On-chain data reveals a significant ramp-up in Bitcoin miner deposits to Binance during November, with approximately 71,000 BTC (valued at $7 billion) transferred to the exchange. This elevated level of inflows is interpreted by analysts as a potential indicator of selling activity from the mining community.
Bitcoin Miner Activity Signals Potential Selling
Recent on-chain data highlights a notable increase in Bitcoin miner deposits to the cryptocurrency exchange Binance. During November, miners have sent an substantial amount of Bitcoin, totaling around 71,000 BTC, to the platform. This heightened inflow suggests that the mining group may be preparing to sell a portion of their holdings, potentially contributing to market supply.