Bitcoin miners play a pivotal role in the cryptocurrency ecosystem. They validate transactions, secure the network, and circulate new Bitcoins. Their behavior, especially in holding or selling mined coins, can provide insight into market sentiment and future price movements.
Data from Glassnode has shown that there has been a negative net position change in miner balances in September. This means miners have been selling more Bitcoin than they’ve been mining. This could result from many different factors — miners might be selling BTC for USD or other fiat currencies to cover operational costs or take profits. Some might also be offloading their BTC in anticipation of a price slump.
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