Bitcoin Miners Have Started Selling, Bear Market Ahead?

Bitcoin Miners Have Started Selling, Bear Market Ahead?


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

Miners To Exchanges Flow Has Sharply Risen

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.

Trending: Robin Bullock: Current Events Update – Kim Clement!

Related to the data are three basic terms. First is the all miners to all exchanges flow total, which shows the total number of coins sent from miners to exchanges.

The next term is the transactions count flow, which indicates the number of Bitcoin transactions done from mining pools 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. This indicator is of the focus here.

Bitcoin All Miners To All Exchanges Flow Mean = Flow Total ÷ Transactions Count

Now,

Continue reading

You Might Like

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend