Glassnode’s latest research shows that miners are saving the Bitcoins they produce rather than selling them. This situation may herald an increase in BTC price.
Blockchain, on-chain data and analytics provider Glassnode’s latest research data is quite interesting. According to the Glassnode report, although Bitcoin is traded at an all-time high of $ 60,000, miners prefer to accumulate the BTC they produce rather than sell them.
In two Glassnode charts shared by the CIO of Moskovski Capital, Bitcoin Miner on Twitter, it is clear that miners are saving up instead of selling their BTC. So much so that miners added 8,874 BTC worth over $ 500 million to their long-term wallets in the days we left behind.
Miners started really ramping up their positions.
— Lex Moskovski (@mskvsk) April 2, 2021
Bitcoin miners first started accumulating BTC they produced at the end of February for the first time since December.
However, nowadays, when Bitcoin is moving very close to the 60 thousand dollar band, we will see if it can be the harbinger of a new upward trend in the coming days that miners prefer to save instead of selling.
Finally, Bitcoin, which reached an all-time high of $ 61,800 on March 13, has been trying to break the psychological resistance of $ 60,000 since then.
At the time of our report, the leading crypto currency Bitcoin was trading at $ 59,663.