Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K
Bitcoin’s (BTC) price tanked to a 52-week low of $20,800 earlier on Wednesday, down by over 70% from its all-time high of $68,788. Although the price has since recovered above $21,000, key market indicators point toward bears having a significant hold on the current market.
Bitcoin Miners to Exchange flow, a metric that indicates the volume of BTC sent by miners to crypto exchanges, rose to a seven-month high of 9,476. The rise in exchange flows indicates miners are currently selling their BTC in anticipation of the price going down. The rise in Bitcoin miners selling activity is backed by the significant decline in mining profitability.
Source
t.me/Mining_Crypto_Miner
