Bitcoin miners are doing something unexpected. Listen up guys, Bitcoin’s been having a tough time lately, with prices printed double digit drop over the past two weeks.
And then miners started hoarding Bitcoin even harder.
Miners hold tight
CryptoQuant analyst BilalHuseynov has been keeping an eye on miner behavior, and what he’s seen is pretty interesting.
Since December, miners have stopped selling off their Bitcoin. They’re holding onto it like it’s a precious gem (because it is), waiting for the right moment (the pumpy moment) to shine.
This is a big deal because when miners sell, it can flood the market and drive prices down. But by holding, they’re reducing supply pressure, which could help stabilize prices in the long run.
Institutions join the party, but they are buyers or sellers?
Another CryptoQuant analyst, Amr Taha, noticed something else that’s got everyone talking.
There have been huge outflows from Coinbase Advanced, which could signal that big institutional investors are stepping in.
These aren’t just short-term speculators, but likely long-term players looking to hold onto Bitcoin for the ride.
And if this aligns with increased demand for Bitcoin ETFs, it could create a supply squeeze that drives prices up. It’s like the whole crypto world is waiting for that one big spark to set off a firework of growth.
What does it mean for the market?
So, what’s the takeaway from all this? It looks like Bitcoin miners and institutional investors are betting big on a recovery sooner or later, and by holding onto Bitcoin and reducing supply, they’re setting the stage for a potential price jump.
It’s like they’re saying, “We’re not giving up on Bitcoin, we’re just getting started!” And if you’re a crypto fan, that’s music to your ears. The question is, will this strategy pay off?
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