Bitcoin Miners Hit Exchanges Dropping BTC Price

Jun 25, 2020

Home 9 chart Analysis 9 Bitcoin Miners Hit Exchanges Dropping BTC Price

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 🧐

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Bitcoin: Miners to ExchangesSource: Glassnode