Bitcoin

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<ul class="wp-block-list news-points"> 
 <li>Bitcoin miners’ OTC balances have surged 70% since June, hitting a 2-year high of 368,000 BTC.</li> 
 <li>This trend suggests miners may be preparing to offload large quantities of Bitcoin.</li> 
 <li>Historically, spikes in miner OTC activity have been linked to significant Bitcoin price movements.</li> 
</ul> 
Bitcoin miners are flooding over-the-counter (OTC) desks with their holdings. Balances have surged 70% since June, <a href="https://x.com/BitcoinNewsCom/status/1826583547341045992" target="_blank" rel="nofollow">hitting a 2-year high</a> of 368,000 BTC in August. This raises questions about potential market shifts. 
Notably, institutional investors and large holders often use OTC desks to execute trades without causing significant market impact. But over the past few months, they have seen a sharp influx of Bitcoin from miners. This trend suggests that miners may be positioning themselves to offload large quantities of Bitcoin, possibly in anticipation of market turbulence or to capitalize on favorable pricing conditions. 
Historically, spikes in OTC balances from miners have been closely monitored by market participants, as they can signal impending price volatility. The current surge aligns with previous instances where miners’ increased OTC activity coincided with notable Bitcoin …
The post <a href="https://coinedition.com/understanding-the-link-between-miner-activity-and-bitcoin-price/">Understanding the Link Between Miner Activity and Bitcoin Price</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Understanding the Link Between Miner Activity and Bitcoin Price

Coin Edition

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