Miners are returning to accumulating BTC
According to TradingView and Glassnode, miners have started to replenish their Bitcoin reserves. From April to May, the volume of BTC in their wallets increased from 1,794,622 to 1,797,330—a growth of about 0.15%. This indicates a change in strategy: instead of selling to cover expenses, miners prefer to hold onto their coins.
The rise of Bitcoin by nearly 20% and signals from the Hash Ribbon indicator confirm bullish sentiment in the market. According to Ledn's Chief Investment Officer John Glover, this strategy allows miners to profit from the increase in value, defer taxes, and use BTC as collateral for loans.
If the accumulation trend continues, Bitcoin will strengthen its status as 'digital gold,' and miners will once again become a significant driver of the crypto market.