“Bitcoin miners, the foundation of cryptocurrency, possess significant impact over market dynamics. Their decisions to preserve or sell off Bitcoin revenues significantly shape supply-demand equilibriums. Intriguingly, throughout 2023, miners have greatly been enhancing their Bitcoin placements, signaling a bullish belief. Nonetheless, what’s the influence when adverse position adjustments emerge? Does it correlate with cost volatility or downtrends? The answers lie in July’s data, when a notable change took place on July 20. Discover just how a sudden buildup of over 451 BTC within four days could … “
Bitcoin miners have begun increasing their Bitcoin reserves at the end of July despite flat revenues, indicating a bullish market sentiment.