Bitcoin miners’ exchange flow reaches 7-month high as BTC price tanks below $21K
Cointelegraph
Published Jun 15, 2022 05:39AM ET
Updated Jun 15, 2022 07:20AM ET
Bitcoin’s (BTC) price tanked to a 52-week low of $20,800 earlier on Wednesday, down by over 70% from its all-time high of $68,788. Although the price has since recovered above $21,000, key market indicators point toward bears having a significant hold on the current market.
Bitcoin Miners to Exchange flow, a metric that indicates the volume of BTC sent by miners to crypto exchanges, rose to a seven-month high of 9,476. The rise in exchange flows indicates miners are currently selling their BTC in anticipation of the price going down.
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Written By: Cointelegraph
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