With the correction ofEthereum (ETH) of yesterday and the arrival of many DeFi tokens in the Bitcoin (BTC), Bitcoin miners sold 844 BTC ($ 9.5 million) in one day, 63% more than they generated during the same period.
According to data from ByteTree, miners continued to sell more bitcoin than they mined this week, with a net sale of 812 BTC recorded in the past 7 days. The level of weekly sales of miners is roughly in line with last week’s figures, although it represents a significant increase in sales from miners compared to the situation in mid-August, when weekly sales s ‘amounted to 171 BTC.
The change in miners’ balances was also highlighted by the analytics provider CryptoQuant, who called the fund sales “unusually large,” and added that some bitcoins were sent to crypto exchanges.
Miners who send large amounts of bitcoins to crypto exchanges could negatively impact the price of Bitcoin. However, miners also have the option of getting rid of their BTC through over-the-counter (OTC) trading services, which does not have an effect on market prices.
Read also: The price of Bitcoin: from $ 41,000 in 2020 to $ 100,000 in 2021?
As of this writing, Bitcoin has been down more than 4% in the past 24 hours and is currently trading at $ 10,855.
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