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Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish

From coindesk.com

Despite Tuesday’s sudden price decline, miner flows suggest the bitcoin market remains strong. The biggest cryptocurrency by market value fell 8% from $10,137 to $9,298 in less than 5 minutes during Tuesday’s U.S. trading hours, dashing hopes for a continued upward move. The price drop, however, has not deterred miners from running down their inventory. {table} According to data source ByteTree, miners have sold 920 BTC and generated 844 BTC in the past 24 hours, pushing their inventory down by 76 BTC and keeping the miner’s rolling inventory (MRI) figure above 100%. “Miners HODL [hold] when the market is weak, not ... (full story)

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  • Category: Fundamental Analysis