Bitcoin miners were recently seen to move their BTC away from storage wallets towards exchanges thus rendering the BTC price drop.

Again, for the umpteenth time Bitcoin faced a rejection in mid $9,000s. But this time the statistics have come up with something interesting 📊

This time the miners have turned to the exchanges thus indicating their intention to sell off the newly mined BTC. If in case the miners continue this trend, we could see a further impact on BTC price 📉

Earlier in the past many weeks, BTC has seen a strong support in the $9,000 – $9,200 region. It remains to be seen how strong the support holds now that the miners are heading towards the exchanges with intention to sell 🧐

Our prediction with the bearish roadmap posted a few days ago on 22nd June has been respected. Our vastly experienced crypto traders are always actively monitoring the situation. With each passing scenario we update our strategies to ensure a safe management of our client’s portfolio. Visit out website to register with us and secure your savings through our experienced trading desk professionals 💯

glassnode-studio_bitcoin-miners-to-exchanges

Bitcoin: Miners to ExchangesSource: Glassnode