Bitcoin Miner Wallet Balances Hit A 10-month Low

The amount of Bitcoin held by miner wallets has decreased to a 10-month low, according to data monitored by Glassnode.
Bitcoin Miner Wallet Balances Hit A 10-month Low

According to data monitored by blockchain analytics company Glassnode, the balance held in miner wallets has decreased by $30.4 billion over the last seven days.

Bitcoin Miner Wallet Balances Hit A 10-month Low
Source: Glassnode

The Bitcoin mining hashrate, on the other hand, is moving in the opposite direction; since the beginning of the month, it has been rising steadily.

Bitcoin Miner Wallet Balances Hit A 10-month Low
BTC hashrate. Source: Blockchain.com

In the midst of the panic market caused by FTX, Bitcoin miners or entities generating the cryptocurrency appear to be exhausting their coin reserves.

Some prominent names in the struggling mining industry include Compute North, Argo Blockchain, and Core Scientific.

At the time of writing, BTC is trading at $16,605.

Bitcoin Miner Wallet Balances Hit A 10-month Low
BTC daily chart. Souce: Coincu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

Bitcoin Miner Wallet Balances Hit A 10-month Low

The amount of Bitcoin held by miner wallets has decreased to a 10-month low, according to data monitored by Glassnode.
Bitcoin Miner Wallet Balances Hit A 10-month Low

According to data monitored by blockchain analytics company Glassnode, the balance held in miner wallets has decreased by $30.4 billion over the last seven days.

Bitcoin Miner Wallet Balances Hit A 10-month Low
Source: Glassnode

The Bitcoin mining hashrate, on the other hand, is moving in the opposite direction; since the beginning of the month, it has been rising steadily.

Bitcoin Miner Wallet Balances Hit A 10-month Low
BTC hashrate. Source: Blockchain.com

In the midst of the panic market caused by FTX, Bitcoin miners or entities generating the cryptocurrency appear to be exhausting their coin reserves.

Some prominent names in the struggling mining industry include Compute North, Argo Blockchain, and Core Scientific.

At the time of writing, BTC is trading at $16,605.

Bitcoin Miner Wallet Balances Hit A 10-month Low
BTC daily chart. Souce: Coincu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

Coincu News

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