$BTC

The accumulation of Bitcoin

BTC

€92,709

by miners has returned, as network participants exchange selling for holding at lows of $75,000.

Data from the on-chain analysis firm Glassnode shows that miners are now actively adding to their BTC reserves.

Bitcoin miners avoid months of selling

Bitcoin reached multi-month lows in April, leading to a dramatic shift in miner behavior, transitioning from a long streak of selling to significant accumulation.

Glassnode shows that shortly after the BTC/USD pair bottomed just below $75,000, miners' wallet balances hit a low, only to start increasing with the price.

Miners' wallets held 1,794,622 BTC on April 12, while by May 13, they had reached 1,797,330 BTC, an increase of 2,708 BTC or 0.15%.