Miners are increasing their Bitcoin balances again

07/25/2023 00:00
Miners are increasing their Bitcoin balances again

Bitcoin miners have begun increasing their Bitcoin reserves at the end of July despite flat revenues, indicating a bullish market sentiment.

Miners are increasing their Bitcoin balances again Miners are increasing their Bitcoin balances again 34 seconds ago · 2 min read

Bitcoin miners have begun increasing their Bitcoin reserves at the end of July despite flat revenues, indicating a bullish market sentiment.

2 min read

Updated: July 24, 2023 at 4:12 pm

Miners are increasing their Bitcoin balances again

Cover art/illustration via CryptoSlate

"Bitcoin miners, the backbone of cryptocurrency, wield considerable influence over market dynamics. Their decisions to retain or liquidate Bitcoin earnings significantly shape supply-demand equilibriums. Intriguingly, throughout 2023, miners have largely been increasing their Bitcoin positions, signaling a bullish sentiment. However, what's the impact when negative position changes arise? Does it correlate with price volatility or downtrends? The answers lie in July's data, when a notable shift occurred on July 20. Find out how a sudden accumulation of over 451 BTC within four days could... "

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