Bitcoin Miners Forced to Sell as Crypto Market Stagnates
The amount of Bitcoin transferred from mining companies to crypto exchanges has hit its highest levels since February. Several metrics suggest Bitcoin mining companies are selling their coins to cover costs as the crypto market downturn continues.
Increased outflows often indicate that miners are moving their coins to exchanges in order to sell them, but are not a direct measure of miners selling. Instead, miners could be transferring their Bitcoin to exchanges for other purposes, such as borrowing against them to cover operating costs. However, financial disclosures from individual mining companies appear to support the idea that miners are indeed selling.
Source
t.me/Mining_Crypto_Miner
