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Bitcoin Miner Reserve Takes Sharp Plummet as On-Chain Data Shows Recent Selling Pressure

Bitcoin has fallen below $27,000 as on-chain data suggests that miners may have been selling the asset. The "miner outflow" indicator shows that miners have taken out approximately 1,750 BTC from their wallets in the past day, which could be a bearish sign for the cryptocurrency's value.

The "miner to exchange flow" indicator shows that the destination wallet of the outflow made another transfer, which was likely towards Binance. The recent selling pressure from miners may have contributed to the decline in Bitcoin's value.

Bitcoin Bitcoin $92,652.74
-4.53%
Bitcoin BTC Bitcoin Miner
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