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The sell-off of Bitcoin reserves by miners, as discussed on X and various portals, is unfounded.
The sell-off of Bitcoin reserves by miners, as discussed on X and various portals, is unfounded. To substantiate this, examine the on-chain data: 1. Miners' reserves on November 28, 2023, totaled 1,845,997 $BTC. 2. As of today, 30.01.2024, the reserves stand at 1,833,222 $BTC, indicating a difference of 12,755 $BTC đ§ . The minimal amount of bitcoin sold has negligible impact on the market. The focus on miners' distribution arises from recent outflows from their wallets, but substantial inflows to their wallets offset these movements, as depicted in the second chart. If you reached the end of this post, leave đ and put your thoughts in comments.