Bitcoin miners have always controlled a reasonable portion of the BTC supply and as such, when they start selling, it can be very bearish for the digital asset. This time around, there has been a significant decline in the holdings of these BTC miners, which suggests that they made be selling again.
Bitcoin Miner Reserves See Sharp Decline
Since the year began, Bitcoin miners have been leaning more toward selling to make ends meet for their operations. This is evident in the declines that have been recorded in their balances after what seemed like a long year of accumulation back in 2022.
As a result, the current Bitcoin miner balances are sitting at about 50% lower than they did at the start of the year, and it doesn’t seem like they’re done selling. This is because data from CryptoQuant shows that miners moved thousands of BTC over the past day with the destination said to be centralized exchange…
