Quick Take
- Miners are continuing to transfer Bitcoin to exchanges.
- As CryptoSlate identified last week, we saw the largest one-day Bitcoin transfer from miners to exchange in two years.
- However, 2,600 Bitcoin were sent to exchanges on Saturday, surpassing last week’s transfer.
- A potential hypothesis could be that miners are preparing for higher Bitcoin prices to sell their Bitcoin, as the transfer volume does not mean they have sold.
- Poolin appears to be responsible for both transfers to Binance, totaling around 4,685 Bitcoin (roughly $128 million at current values) sent to the exchange.
The post Are miners sending Bitcoin to exchanges, waiting for higher prices? appeared first on CryptoSlate.
Source: https://cryptoslate.com/insights/are-miners-sending-bitcoin-to-exchanges-waiting-for-higher-prices/