GET 10% OFF ON YOUR FIRST ORDER. FOR A LIMITED TIME ONLY. Use code: WELCOME on checkout

Bitcoin Miner Selling Still Elevated, On-Chain Data Shows

On-chain data shows the Bitcoin miners have continued to make large deposits to exchanges recently, a sign that could be bearish for BTC’s price.

Bitcoin Miner Exchange Netflow Has Been Seeing Positive Spikes

In a new post on X, CryptoQuant author IT Tech has discussed about the latest trend in the Bitcoin Miner to Exchange Flow vs. Exchange To Miner Flow metric. This indicator measures, as its name suggests, the netflow happening between miner-associated wallets and centralized exchanges.

When the value of this metric is positive, it means the miners are depositing a net number of tokens to these platforms. Generally, these chain validators transfer to the exchanges whenever they want to sell, so this kind of trend can have a bearish impact on the asset’s price.

On the other hand, the indicator having a negative value implies the the miner exchange outflows are outweighing the miner exchange inflows. Such a trend suggests this cohort may be accumulating, which can naturally be bullish for BTC.

Now, here is the chart that shows the trend in the Bitcoin Miner to Exchange Flow vs. Exchange To Miner Flow over the last year:

Bitcoin Miner Netflow

As displayed in the above graph, the indicator has been registering significant positive values since the bull rally from the last couple of months of 2024, implying miners have been depositing big to these platforms.

The metric has also been flagging some net outflows during this period, but the scale of them has been significantly lesser compared to the net inflows. Given that the deposits started when the rally began, it would appear likely that the motivation behind them was for profit-taking purposes.

Recently, though, bullish momentum has seen a cooldown and BTC’s price has declined, but the miner inflows have nonetheless continued. It’s possible that this group is now just panic selling, in fear of a bear market.

Miners are entities that regularly participate in distribution, due to the fact that they have constant running costs in the form of electricity bills that they have to pay off somehow. Usually, this selling isn’t of a scale that can’t be absorbed by the market, so Bitcoin doesn’t tend to be affected much by it.

In the periods where miner selling is significant, however, BTC can indeed suffer from a bearish setback. Compared to during the rally last year, miner inflows are currently lower, but are of a notable level nonetheless. “If miner selling accelerates, it could introduce short-term volatility into the market,” notes the analyst.

It now remains to be seen what the Bitcoin miners would do next and whether their potential selling would have any influence on the asset or not.

BTC Price

At the time of writing, Bitcoin is floating around $83,400, up almost 6% in the last seven days.

Bitcoin Price Chart

Latest Press

post-thumbnail
News
35 minutes ago
Mantle Price Prediction 2025, 2026 – 2030: Will MNT Price Hit $2 This Year?
The post Mantle Price Prediction 2025, 2026 – 2030: Will MNT Price Hit $2 This Year? appeared firs...
READ MORE
post-thumbnail
News
35 minutes ago
Will Bitcoin Dip to $78K? BlackRock’s $40M BTC Buy Raises Questions
The post Will Bitcoin Dip to $78K? BlackRock’s $40M BTC Buy Raises Questions appeared first on Coi...
READ MORE
post-thumbnail
News
35 minutes ago
Internet Computer Price Prediction 2025, 2026 – 2030: Will ICP Price Hit $20?
The post Internet Computer Price Prediction 2025, 2026 – 2030: Will ICP Price Hit $20? appeared fi...
READ MORE
default post thumbnail
News
35 minutes ago
BNB Price Finds Footing After Clearing $605 Resistance Toward Higher Targets
BNB has once again demonstrated its resilience and strength by breaking through the crucial $605 res...
READ MORE
default post thumbnail
News
35 minutes ago
Ethereum Is Retesting A 5-Year Long Trendline – Massive Rally Incoming?
Ethereum is currently consolidating below the $2,000 mark, trading within a narrow range between $1,...
READ MORE
default post thumbnail
News
35 minutes ago
Best Crypto to Buy as Canary Capital Files for First-Ever SUI ETF
The best crypto to buy are now shining stronger that the SEC has acknowledged the filing of the firs...
READ MORE
default post thumbnail
News
35 minutes ago
XRP Puzzle: London Fund Manager Breaks Down Why Price Isn’t Rising
Banks and other global financial organizations are becoming more interested in XRP, the cryptocurren...
READ MORE
default post thumbnail
News
35 minutes ago
XRP Price Breakdown below $2: Analyst Reveals Next Major Support
Crypto analyst MadWhale has raised the possibility of the XRP price experiencing a breakdown below t...
READ MORE
default post thumbnail
News
35 minutes ago
Best Crypto to Buy in the Dip: 3 Coins Poised for a Strong Comeback
Looking for the best crypto to buy in the dip? Smart move.  When the crypto market takes a hit, tha...
READ MORE
default post thumbnail
News
35 minutes ago
Michael Saylor’s Strategy Adds 130 BTCs in Smallest-Ever Purchase
Michael Saylor’s Strategy has acquired 130 additional Bitcoin worth $10.7 million—its smalle...
READ MORE

Publish an article now

Unlock the power of media for instant visibility to the target audience, major SEO boost, greater website traffic and conversion rates.

click here to get started