On Thursday, the global digital asset market cap increased by 2% to reach $1.14 trillion. Bitcoin, the largest cryptocurrency, saw a surge of almost 3% in its price over the past day. However, data suggests that miners may be selling some of their holdings on crypto exchanges, as a wallet address deposited $48 million worth of BTC to Binance.

This move indicates that selling pressure may be coming from miners. In April, the same wallet address deposited 5,791 Bitcoin worth approximately $163 million, which resulted in a 3% drop in BTC price within five hours.