On-chain data shows the Bitcoin miners have been making an unusually high number of transactions to centralized exchanges recently. Bitcoin Miner To Exchange Transactions Metric Has Just Seen A Spike As pointed out by CryptoQuant author IT Tech in a new post on X, the Miner to Exchange Transactions indicator has been high recently. The “Miner to Exchange Transactions” keeps track of the total number of transfers that the miner-associated Bitcoin wallets are making to addresses connected with exchanges. When the value of this metric is high, it means the miners are making a large amount of moves to these platforms. As one of the main reasons why these chain validators would deposit to exchanges is for selling-related purposes, this kind of trend can have a bearish effect on the BTC price. Related Reading: Dogecoin Breaks Away With 9% Surge: Why This Could Trouble Bitcoin On the other hand, the indicator being low implies miners aren’t making inflows to exchanges, potentially because they plan to hold onto their coins for a while. Naturally, this HODLing from t ..
Support the originator by clicking the read the rest link below.
