Miners are hoarding Bitcoin from record daily earnings By Cointelegraph

Miners are hoarding Bitcoin from record daily earnings

CryptocurrencyApr 08, 2021 02:20AM ET

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Miners are hoarding Bitcoin from record daily earnings

Bitcoin miners are stashing away their coins for higher prices, with direct transfers from miners to exchanges plummeting nearly 40% since mid-March.

Data from on-chain analytics provider Glassnode shows that miners’ BTC balances have been increasing since late March, following heavy outflows throughout January and consistently reduced selling during February and earlier in March.

BTC unspent supply: Glassnode

BTC transfers from miner wallets to exchanges, 30-day moving average: Glassnode

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Miners are hoarding Bitcoin from record daily earnings

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