Bitcoin Miners Show Strong Accumulation As Their Inventories Spike Up

Bitcoin Miners Show Strong Accumulation As Their Inventories Spike Up


On-chain data shows Bitcoin miner reserve has showed a sharp spike recently, suggesting that miners are currently loading up on the crypto.

Bitcoin Miner Reserve Shoots Up; Trend Of Accumulation From Last Year Continues

As pointed out by an analyst in a CryptoQuant post, the BTC miner reserve has shown strong uptrend recently. This seems to be a continuation of the accumulation trend from the last year.

Trending: Paul Sperry: What Did Clinton Know and When Did She Know It? The Russiagate Evidence Builds

The “miner reserve” is an indicator that tells us the total amount of Bitcoin currently stored in the wallets of miners.

When the trend in the metric is towards up, it means miner inventories are growing as they stock up on more of the coin. Such a trend can be bullish for the price of the coin as

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend