JUST

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<ul class="wp-block-list news-points">
 <li><strong>On-chain analysts have spotted a significant behavior in Bitcoin miners’ activity this year.</strong></li>
 <li><strong>The miner-to-exchange transfer rate has dropped despite Bitcoin’s rally.</strong></li>
 <li><strong>Analysts consider recent miners’ behavior a bullish signal for Bitcoin.</strong></li>
</ul>
<p>On-chain analysts have noticed a key trend in Bitcoin miners’ behavior this year. Even with the rise in BTC price, the miner-to-exchange transfer rate has significantly decreased, suggesting that BTC miners are choosing to keep their coins. At the same time, a JP Morgan analyst noted that August saw the lowest-ever Bitcoin mining profitability, while the U.S. share of network hashrate climbed to a record 26%.</p>
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   <p lang="en" dir="ltr">JUST IN <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">: According to a JPMorgan analyst, August saw the lowest ever <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitcoin</a> mining profitability. Meanwhile, the U.S. portion of network hashrate soared to a record 26%. Stay ahead of the curve with us. <a href="https://twitter.com/hashtag/CryptoNews?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#CryptoNews</a> <a href="https://twitter.com/hashtag/Blockchain?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Blockchain</a></p>— THΞ FΞNNΞC (@FennecSpirit) <a href="https://twitter.com/FennecSpirit/status/1824444824793043235?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 16, 2024</a>
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<p>Historically, Bitcoin miners tend to transfer more BTC to centralized exchanges during price rallies. This pattern suggests a profit-taking move as miners capitalize on the increasing value of the flagship cryptocurrency.</p>
<p>This year’s…</p>
<p>The post <a href="https://coinedition.com/bitcoin-miners-buck-trend-hold-onto-coins-despite-price-rise/" rel="noopener noreferrer nofollow">Bitcoin Miners Buck Trend, Hold Onto Coins Despite Price Rise</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Bitcoin Miners Buck Trend, Hold Onto Coins Despite Price Rise

Coin Edition

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