On-chain shows Bitcoin miners have been in a phase of distribution recently, a sign that could prove to be bearish for the price of the crypto.
Bitcoin Miner Reserve Observes Downtrend As Miners Look To Dump
As pointed out by an analyst in a CryptoQuant post, the latest selling from BTC miners may force the price down in the short term.
The “miner reserve” is an indicator that measures the total amount of Bitcoin currently stored in the wallets of all miners.