September 27, 2022

Exchanges recorded the sale of BTC by miners

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According to a report from blockchain data provider Glassnode, the highest inflow of assets from Bitcoin (BTC) miners in the last 7 months was recorded, which amounted to 9,476 bitcoins over the past day from June 14 to 15, 2022. This indicator, according to experts, is considered a signal of weakening trading activity and strengthening of the bearish trend.

The growth of exchange flows, according to experts, indicates that BTC miners are faced with the problem of profitability of mining a virtual coin. Also, according to the reporting data, the movement of assets in the flagship cryptocurrency to the accounts of trading platforms exceeded the turnover towards personal wallets. Earlier, representatives of the leading mining pools announced the profitability threshold of $21,000 for bitcoin. As of June 15, 2022, the BTC market rate dropped to $20,190, which inevitably led to an increase in activity in sales operations.

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