While Bitcoin is trying to recover its previous prices, the miners of this digital currency have sold some of their assets in the last 30 days.
According to the Coin Desk, data from various sources show that bitcoin miners have sold some of their assets in the last 30 days after several months of digging and accumulating their assets.
Net changes in miners ‘assets are the result of changes in the volume of bitcoins in miners’ portfolios. The chart below shows the periods in which miners sold their bitcoins (red bars) and the periods in which they accumulated them (green bars).
Miners traded 1,660 and 1,733 bitcoins on Saturday and Sunday this week, according to analytics website Glassnode. Currently, that amount is $ 147 million.
This is the first time bitcoin miners will sell in 2022. It is worth mentioning that their previous sales date back to November 2021 (November).
The Delphi Institute for Digital Research explained in an article that miners have been accumulating their bitcoins for the past two months. As it turns out, lowering the price of bitcoin from $ 55,000 to $ 35,000 hasn’t stopped them from doing so.
According to some analysts, after the price of bitcoin rose over the weekend, miners decided to sell some of their bitcoins. The sale reduced the net change in miners’ net assets for the first time in two months.
Miner sales over the past 30 days may have helped bring the price of bitcoin closer to $ 32,000 in the last week of January. However, the price of bitcoin improved after some time and reached $ 45,570 on Tuesday.
The bitcoin retrieval process involves discovering new blocks, approving transactions, and adding them to the bitcoin blockchain.
Miners are individuals or legal entities who use powerful processing resources to validate network activity and receive bitcoin rewards in return. The cost of maintaining such systems is very high and miners sell their assets at different times in order to pay these costs.
The publication New Data: Miners have sold most of the bitcoins mined in the last month, appeared for the first time in digital currency.