- Bitcoin miners have moved over 5,000 BTCs in three days.
- BTC remained above the $42,000 price range.
The Bitcoin [BTC] Miner Reserve metric has witnessed a notable shift, suggesting sales of the king coin. Did these sales significantly impact the reserve and the price of BTC?
Bitcoin Miner Reserve sees significant moves
CryptoQuant recently reported a substantial outflow of over 4,000 BTC, valued at around $173 million, as indicated by the Bitcoin Miner Reserve.
This outflow marked the highest observed since the 16th of May 2023.
AMBCrypto’s examination of the Miner Reserve further indicated that the decline in reserves had commenced around November 2023.
As of press time, more than 1,200 BTCs had left exchanges, signifying an outflow of over 5,000 BTCs from the reserve in the last three days.
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Author: Adewale Olarinde
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