Bitcoin miner outflow ratio hits 6-month high in new threat to BTC price
Bitcoin miners are upping sales, but BTC price metrics hint that a relief rally could be next.
Bitcoin miners are upping sales, but BTC price metrics hint that a relief rally could be next.
Bitcoin price technicals, however, remain bearish for with the BTC price eyeing a run-down toward $14,000 in Q4.
CoinShares' head of research James Butterfill said the outflows come despite "the improved certainty of the Merge."
Someone is buying the dip with conviction as the start of Wall Street trading drags the market lower.
The shocking Bitcoin withdrawals appeared as BTC's extended its decline below $20,000 over the weekend.
Institutional investors withdrew a record $141 million from Bitcoin investment products this past week.