Glassnode’s latest data show that Bitcoin miners continue to save and add another 8,874 BTC to their reserves.
Miners continue to hide their newly minted Bitcoin rather than sell it and raise BTC positions.
This is confirmed in the most recent Glassnode charts shared by Moskovski CIO Lex Moskovski.
Miners increase Bitcoin stashes
Moskovski Capital’s CIO shared two Glassnode charts showing that the Bitcoin Miner Position indicator turned positive.
According to these graphs, crypto miners continue to accumulate Bitcoin instead of selling it. On Friday and Saturday, they added $ 523,647,640 worth of Bitcoin to their long-term storage. This corresponds to 8,874 BTC.
On February 27, miners started to accumulate BTC instead of dumping it for the first time since the end of December.
Bitcoin hits $ 60,000 again before making a slight pullback
On April 2, the flagship cryptocurrency Bitcoin managed to reach the $ 60,152 price mark. Afterwards, there was a slight retreat.
The previous all-time high of $ 61,876 was reached on March 13. Since then, BTC has so far recovered from the $ 50,000 level on March 25.
Bitcoin changes hands at $ 59,124 on the Kraken exchange.