Crypto Miners Still Selling Their Bitcoin as Reward Halving Looms, Blockchain Data Show
The number of bitcoin held in wallets tied to miners has dropped to the lowest since mid-2021.
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The number of bitcoin held in wallets tied to miners has dropped to the lowest since mid-2021.
The funding rate spread has collapsed, indicating increased appetite by traders to speculate further out on the risk curve, one analyst said.
Net outflows from exchanges are often taken to represent investors’ intention to hold coins for long-term.
It appears bitcoin holders are not planning on offloading inventory at these price levels or any time soon, one observer said.