The data on the series shows that the Bitcoin workers ’exchange flows have increased recently, which can extend BTC price withdrawal.
Bitcoin miners have witnessed an increase in the flow
It was also indicated by a QuickTake Cryptoquant analyst mailMiners increases the pressure pressure. The sign of importance on the series here is the “mining factor for exchange”, which, as its name suggests, tracks the total amount of bitcoin that is transferred from mines entities to the governor associated with exchange.
When the value of this scale is high, this means that miners transport a large number of coins to these central platforms. In general, these chain endorsements are deposited for exchanges when they want to sell, so this type of trend can be a declining sign of the price of the original.
On the other hand, the low indicator means that miners may not care to sell because they make only a low amount of exchange flows. Such a trend can be naturally bullied for the cryptocurrency.
Now, here is the graph that shows the trend in the whole bitcoin to exchange a flow in the past few months:
The value of the metric appears to have registered a spike in recent days | Source: CryptoQuant
As shown in the graph above, note the general bitcoin to exchange the flow over the past day, indicating that miners have made a great deposit for stock exchanges.
In the last two weeks, there have also been other large mutations in the scale, with interesting common denominators among most of them that they all came after the price of the original decreased. The latest spike follow this style. Consequently, it seems that the health of the series was selling to panic during this stage of downtling momentum.
Miners are entities who have to participate in regular sale in order to maintain their operations, because they have fixed operating costs in the form of electricity bills. Most of the time, the pressure pressure of the regiment is easily absorbed by the market, and thus the BTC price tends to not see a decreased effect of it.
In cases where the sales process is particularly noticeable, Bitcoin can already feel the effect. “It is possible for the continuous sale of miners to slow recovery unless it is absorbed with strong demand,” notes the quantity.
It remains now to see whether BTC MINER to exchange a flow will witness slowdown in the near future, or whether miners will continue to separate from their property, which may cause the price direction to be extended.
BTC price
Bitcoin briefly fell under the mark of $ 77,000 during yesterday’s diving, but the currency has since witnessed a recovery with the return of its price now at $ 80,700.
Looks like the price of the coin has been sliding down over the last few days | Source: BTCUSDT on TradingView
Distinctive image from Dall -e, Cryptoquant.com, Chart from TradingView.com
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