- March has seen a hike in BTC miner-to-exchange activity.
- Miners are seeking to book profits from the coin’s current rally.
Bitcoin [BTC] miner-to-exchange activity has seen a spike ahead of the next halving scheduled for around mid-April, on-chain data revealed.
This pre-programmed event cuts the reward for mining a block in half, aiming to control inflation by limiting new Bitcoin issuance.
According to data from CryptoQuant, the BTC miner reserve has been slowly declining since the 26th of February. This metric measures the amount of coins held in affiliated miners’ wallets.
When its value declines, it suggests that miners are offloading their coins.
Sitting at 2 million BTC at press time, BTC’s miner reserve has fallen by almost 2% in the past two weeks.
Source: CryptoQuant
In a new report, CryptoQuant analyst Joao Wedson noted that March so far has been marked by,
“A consistent flow of Bitcoin from miners’ wallets to exchanges.”
When there is an uptick in miner-to-exchange activity on the Bitcoin network, it suggests that miners are selling more BTC than they are mining.
Per CryptoQuant’s data, the daily flow of BTC from miners’ wallets to exchanges has risen by over 1000% in the last seven days.
Wedson also attributes this current rise to the upcoming halving event.
Due to the anticipated decline in mining rewards, miners on the Bitcoin network are currently under pressure to sell their holdings and realize a profit before mining costs outpace rewards.
According to Wedson:
“The logic behind this is simple: with the reduction in rewards, the pressure to sell and ensure profitability before mining costs become disproportionate to the reward may increase. This preventive action can be an attempt to mitigate risks associated with the reduction in mining revenues.”
Rally above $70,000 leads to…
At press time, BTC was at $68,369. On the 8th of March, it traded briefly above the $70,000 price mark to record a new all-time high, according to CoinMarketCap’s data.
Read Bitcoin’s [BTC] Price Prediction 2024-2025
With the Futures market recording mostly positive Funding Rates, the price jump above $70,000 resulted in a liquidation of short positions worth $58 million, per Coinglass’ data.
Source: Coinglass
On the same day, long liquidations totaled $50 million.
- March has seen a hike in BTC miner-to-exchange activity.
- Miners are seeking to book profits from the coin’s current rally.
Bitcoin [BTC] miner-to-exchange activity has seen a spike ahead of the next halving scheduled for around mid-April, on-chain data revealed.
This pre-programmed event cuts the reward for mining a block in half, aiming to control inflation by limiting new Bitcoin issuance.
According to data from CryptoQuant, the BTC miner reserve has been slowly declining since the 26th of February. This metric measures the amount of coins held in affiliated miners’ wallets.
When its value declines, it suggests that miners are offloading their coins.
Sitting at 2 million BTC at press time, BTC’s miner reserve has fallen by almost 2% in the past two weeks.
Source: CryptoQuant
In a new report, CryptoQuant analyst Joao Wedson noted that March so far has been marked by,
“A consistent flow of Bitcoin from miners’ wallets to exchanges.”
When there is an uptick in miner-to-exchange activity on the Bitcoin network, it suggests that miners are selling more BTC than they are mining.
Per CryptoQuant’s data, the daily flow of BTC from miners’ wallets to exchanges has risen by over 1000% in the last seven days.
Wedson also attributes this current rise to the upcoming halving event.
Due to the anticipated decline in mining rewards, miners on the Bitcoin network are currently under pressure to sell their holdings and realize a profit before mining costs outpace rewards.
According to Wedson:
“The logic behind this is simple: with the reduction in rewards, the pressure to sell and ensure profitability before mining costs become disproportionate to the reward may increase. This preventive action can be an attempt to mitigate risks associated with the reduction in mining revenues.”
Rally above $70,000 leads to…
At press time, BTC was at $68,369. On the 8th of March, it traded briefly above the $70,000 price mark to record a new all-time high, according to CoinMarketCap’s data.
Read Bitcoin’s [BTC] Price Prediction 2024-2025
With the Futures market recording mostly positive Funding Rates, the price jump above $70,000 resulted in a liquidation of short positions worth $58 million, per Coinglass’ data.
Source: Coinglass
On the same day, long liquidations totaled $50 million.
get cheap clomid without rx generic clomiphene c10m1d can i order generic clomiphene for sale where can i get clomiphene no prescription get clomid without a prescription clomid nz prescription can you get cheap clomiphene pills
This is the amicable of serenity I take advantage of reading.
This website exceedingly has all of the tidings and facts I needed to this subject and didn’t identify who to ask.
azithromycin 500mg usa – tinidazole cheap order metronidazole 200mg
buy generic semaglutide 14 mg – rybelsus 14 mg cheap order periactin online cheap
buy domperidone without a prescription – buy generic sumycin online order flexeril
inderal 10mg without prescription – buy generic propranolol over the counter methotrexate 5mg oral
augmentin 1000mg us – atbioinfo cost acillin
nexium buy online – anexa mate order nexium 20mg generic
cheap warfarin 2mg – https://coumamide.com/ buy cozaar pills for sale
buy meloxicam pill – moboxsin buy meloxicam 15mg sale
best ed drugs – mens erection pills pills for ed
order amoxicillin online cheap – comba moxi generic amoxicillin
buy fluconazole 200mg – https://gpdifluca.com/ buy fluconazole
tadalafil walgreens – click cialis 100mg from china
cialis generic canada – where to get free samples of cialis tadalafil and sildenafil taken together
buy zantac for sale – online brand ranitidine 300mg