🧵 1. Bitcoin miners sell assets & leverage for upgrades as inflows to exchanges continue. Miner outflows hit 6-year high, $1B moved after ETF approval. #crypto
🧵 1. Bitcoin miners sell assets & leverage for upgrades as inflows to exchanges continue. Miner outflows hit 6-year high, $1B moved after ETF approval. #crypto
🧵 2. Huge outflows of BTC from miner wallets to exchanges: 13,500 BTC in 24 hours. But net outflow since ETF approval is 10,200 BTC. Miners rebalancing positions ahead of key events.
🧵 3. Miners offload assets to exchanges before Bitcoin halving to raise capital for expansion. Outflows indicate intention to sell. Institutional entry in 2023 helped miners recover losses.
🧵 Read more at: https://cryptonews.com/news/bitcoin-etfs-trigger-massive-miner-outflows-over-1-billion-moved-to-exchanges.htm