{"id":467709,"date":"2021-07-19T19:00:43","date_gmt":"2021-07-19T19:00:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467709"},"modified":"2024-06-11T10:04:20","modified_gmt":"2024-06-11T10:04:20","slug":"bitcoin-miners-selling-bear-market","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-miners-selling-bear-market\/","title":{"rendered":"Bitcoin Miners Have Started Selling, Bear Market Ahead?"},"content":{"rendered":"

Bitcoin on-chain data has revealed that miners have started selling more BTC on exchanges, an indicator that a bear market could be ahead.<\/p>\n

Miners To Exchanges Flow Has Sharply Risen<\/h2>\n

As pointed out by a CryptoQuant post<\/a>, the all miners to all exchanges flow mean for Bitcoin seems to have sharply risen this past weekend.<\/p>\n

Related to the data are three basic terms. First is the all miners to all exchanges flow total, which shows the total number of coins sent from miners to exchanges.<\/p>\n

The next term is the transactions count flow, which indicates the number of Bitcoin transactions done from mining<\/a> pools to exchanges.<\/p>\n

Lastly, there is the flow mean that’s defined as the mean amount of BTC transferred from miners to exchanges, and it’s calculated by dividing the flow total with the transactions count. This indicator is of the focus here.<\/p>\n

Bitcoin All Miners To All Exchanges Flow Mean = Flow Total \u00f7 Transactions Count<\/p><\/blockquote>\n

Now, here is a chart that shows how the value of the indicator has changed over the past year:<\/p>\n

\"Bitcoin<\/p>\n

The indicator seems to have recently risen | Source: CryptoQuant<\/a><\/pre>\n
As the graph shows, on the weekend, the all miners to all exchanges flow mean has hit the highest point since November 2020.<\/p>\n
The past month has also seen other smaller peaks with the average Bitcoin transferred being more than 60 BTC. The peak this Saturday was almost 100 coins big.<\/p>\n
The mining environment right now is a bit special due to China’s crackdowns<\/a>, and it’s possible the value of the indicator is going up because miners are relocating to other countries and restarting operations.<\/p>\n
When the value of the indicator goes up, it means more miners are transferring their BTC to exchanges for selling purposes.<\/p>\n
Since the quantities involved are pretty large here, selling pressure from miners can have an impact on the entire market.<\/p>\n
Related Reading | A Rare Bullish Bitcoin Signal Has Finally Appeared<\/a><\/strong><\/em><\/p>\n
Thus, the value going up can be bearish for the market. However, it should be noted that it doesn’t necessarily have to result in the price falling down.<\/p>\n
There have been instances in the history of Bitcoin where the miners to exchanges flow mean going up hasn’t resulted in a crash. For example, the price only continued to march up after the November 2020 spike.<\/p>\n
Bitcoin Price<\/h2>\n
At the time of writing, BTC price<\/a> is around $30.7k, down almost 8% in the last 7 days. Here is a chart noting the trend in the crypto’s value:<\/p>\n
\"Bitcoin<\/p>\n
Bitcoin seems to be on a downtrend | Source: BTCUSD on TradingView<\/a><\/pre>\n
BTC continues to be stuck in a range bound market as the crypto’s price fails to move much in the past few weeks.<\/p>\n
Related Reading |\u00a0Why Bitcoin And Crypto Bulls Require More Patience<\/a><\/em><\/strong><\/p>\n
It’s unclear when the market will pick a particular direction to go in, but if the miners to exchanges flow is anything to go by, there could be a bearish turn soon. However, as mentioned before, that doesn’t necessarily have to be the case either.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin on-chain data has revealed that miners have started selling more BTC on exchanges, an indicator that a bear market could be ahead. Miners To Exchanges Flow Has Sharply Risen As pointed out by a CryptoQuant post, the all miners to all exchanges flow mean for Bitcoin seems to have sharply risen this past weekend. Related to the data are three basic terms. First is the all miners to all exchanges flow total, which shows the total number of coins sent from miners to exchanges. The next term is the transactions count flow, which indicates the number of Bitcoin transactions done from mining pools to exchanges. Lastly, there is the flow mean that’s defined as the mean amount of BTC transferred from miners to exchanges, and it’s calculated by dividing the flow total with the transactions count. This indicator is of the focus here. Bitcoin All Miners To All Exchanges Flow Mean = Flow Total \u00f7 Transactions Count Now, here is a chart that shows how the value of the indicator has changed over the past year: The indicator seems to have recently risen | Source: CryptoQuant As the graph shows, on the weekend, the all miners to all exchanges flow mean has hit the highest point since November 2020. The past month has also seen other smaller peaks with the average Bitcoin transferred being more than 60 BTC. The peak this Saturday was almost 100 coins big. The mining environment right now is a bit special due to China’s crackdowns, and it’s possible the value of the indicator is going up because miners are relocating to other countries and restarting operations. When the value of the indicator goes up, it means more miners are transferring their BTC to exchanges for selling purposes. Since the quantities involved are pretty large here, selling pressure from miners can have an impact on the entire market. Related Reading | A Rare Bullish Bitcoin Signal Has Finally Appeared Thus, the value going up can be bearish for the market. However, it should be noted that it doesn’t necessarily have to result in the price falling down. There have been instances in the history of Bitcoin where the miners to exchanges flow mean going up hasn’t resulted in a crash. For example, the price only continued to march up after the November 2020 spike. Bitcoin Price At the time of writing, BTC price is around $30.7k, down almost 8% in the last 7 days. Here is a chart noting the trend in the crypto’s value: Bitcoin seems to be on a downtrend | Source: BTCUSD on TradingView BTC continues to be stuck in a range bound market as the crypto’s price fails to move much in the past few weeks. Related Reading |\u00a0Why Bitcoin And Crypto Bulls Require More Patience It’s unclear when the market will pick a particular direction to go in, but if the miners to exchanges flow is anything to go by, there could be a bearish turn soon. However, as mentioned before, that doesn’t necessarily have to be the case either.<\/p>\n","protected":false},"author":542,"featured_media":467714,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,13790,7104,639,1119,1144],"class_list":["post-467709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bear","tag-bitcoin-bear-market","tag-bitcoin-miners","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Miners Have Started Selling, Bear Market Ahead?<\/title>\n<meta name=\"description\" content=\"Bitcoin on-chain data has revealed that miners have started selling more BTC on exchanges, an indicator that a bear market could be ahead. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Miners Have Started Selling, Bear Market Ahead?","url":"http:\/\/uniquehot.com\/news\/bitcoin-miners-selling-bear-market\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-miners-selling-bear-market\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/pexels-pixabay-158109.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/pexels-pixabay-158109.jpg?fit=2200%2C1466"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bear","bitcoin bear market","bitcoin miners","btc","btcusd"],"dateCreated":"2021-07-19T19:00:43Z","datePublished":"2021-07-19T19:00:43Z","dateModified":"2024-06-11T10:04:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Miners Have Started Selling, Bear Market Ahead?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-miners-selling-bear-market\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-miners-selling-bear-market\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/pexels-pixabay-158109.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/07\\\/pexels-pixabay-158109.jpg?fit=2200%2C1466\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bear\",\"bitcoin bear market\",\"bitcoin miners\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-07-19T19:00:43Z\",\"datePublished\":\"2021-07-19T19:00:43Z\",\"dateModified\":\"2024-06-11T10:04:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/07\/pexels-pixabay-158109.jpg?fit=2200%2C1466","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/467709"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=467709"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/467709\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/467714"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=467709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=467709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=467709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}