Ever since the mid-year substantial sell-off, bitcoin miners’ reserves have been gradually rising, and their total holdings have reached a six-month high.
Additionally, on-chain data showed that the reaccumulation levels had reached the September highs, right before BTC started to gain value rapidly.
Miners Back to HODLing
It was back in June this year when most bitcoin miners disposed of significant portions of their holdings in a relatively short period. This had a catastrophic effect on the cryptocurrency’s price, which had already retraced from the April ATH, but only kept plunging and bottomed below $30,000.
Since then, though, miners changed their stance and started to HODL more, as CryptoQuant’s chart below shows. Following a few more months of keeping relatively steady holdings, their positions started to increase in early December. Consequently, miners’ inventory balance has now tapped a new six-month high.
The analytic’s company asserted that they are still “very
We współpracy z: https://cryptopotato.com/bitcoin-miners-reserves-reach-six-month-high/
