Bitcoin Miners Move 85,503 BTC, Price Unaffected – Here’s Why

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Bitcoin Miners Move 85,503 BTC, Price Unaffected – Here’s Why - NewsBTC

Quick Summary:

Related Reading: Bitcoin Sets New ATH Above $104,000, Yet Investors Don’t Want To Sell Bitcoin Miners Offload 85,503 BTC In 48 Hours On Friday, Santiment shared a report on Bitcoin mining wallets activity in correlation to the asset’s price.

However, the team at Santiment postulates the recent BTC offload should be considered a net-neutral signal with no inking on Bitcoin’s price movement. This notion is based on Bitcoin miner balances showing a weak correlation with price for the majority of 2024.

Interestingly, popular crypto analyst Ali Martinez recently provided some update on this accumulation trend stating that BTC whales have acquired 20,000 BTC, valued at $2 billion, over the past 24 hours. Nevertheless, the constant decline in miner balances remains an important concern for Bitcoin investors.