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.
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