June 19 (Cointime) - According to data from Glassnode, Bitcoin miners have transferred more BTC to exchanges in the past week than at any point in the past five years. Despite this, miners are still holding 1.829 million BTC, worth around $49 billion. Some market analysts believe that the miners' transactions indicate their confidence in Bitcoin's future prices, while others suggest that the flow of funds to exchanges suggests that an entity plans to sell. Bitcoin's value has dropped significantly in the past two weeks, but sentiment appears to have shifted after BlackRock applied for a Bitcoin Spot ETF.
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Bitcoin Miners Rushing to Exchanges: Unprecedented Asset Transfer Rate
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