After the increase in miner activity on the network during the past days, the activity has returned to negative levels. It seems that miners expect that the price will rise in the future. Also, the cost of mining may be lower than the current price of Bitcoin, meaning that they are making profits without having to sell, so there is no financial pressure that forces them to sell Bitcoin until selling is more profitable. On the other hand, given the indicator of miner flows to platforms, there is a decrease in miner transfers to platforms. It is worth noting here that miners carrying out large sales of Bitcoin leads to an increase in supply in the market. Also, investors believe that miners have a strong knowledge of market mechanisms and mining, so they consider miner selling a bearish signal.
Written by Arab Chain
