Bitcoin Miners Continue Distribution, Bad Sign For The Rally?

BitcoinistОпубліковано о 2022-08-15Востаннє оновлено о 2022-08-15

Анотація

On-chain shows Bitcoin miners have been in a phase of distribution recently, a sign that could prove to be bearish...

On-chain shows Bitcoin miners have been in a phase of distribution recently, a sign that could prove to be bearish for the price of the crypto.
Bitcoin Miner Reserve Observes Downtrend As Miners Look To Dump
As pointed out by an analyst in a CryptoQuant post, the latest selling from BTC miners may force the price down in the short term.
The “miner reserve” is an indicator that measures the total amount of Bitcoin currently stored in the wallets of all miners.
When the value of this indicator goes up, it means miners are depositing coins into their wallets right now. Such a trend, when prolonged, can be a sign of accumulation from these network validators, and could thus be bullish for the price of BTC.
On the other hand, declining values of the metric suggest miners are transferring a net number of coins out of their reserves at the moment. Since miners usually withdraw their BTC for selling purposes, this kind of trend can be bearish for the value of the crypto.
Now, here is a chart that shows the trend in the Bitcoin miner reserve over the last several months:

Source: CryptoQuant
As you can see in the above graph, the Bitcoin miner reserves have been trending downwards during the past couple of weeks, while the price has been going up.
This could suggest that miners may be participating in distribution recently, taking advantage of the higher prices.
This selling from the miners can dampen this latest rally and take the value of the coin down, at least in the short term.
The reason behind such dumping from this cohort is the recent shrinking revenues in Bitcoin mining. Many miners might need to sell more than usual to pay off their running costs at these lower revenues.
Some other miners would also have remaining payments for their mining rigs so they will have to sell more of their reserve to pay them off in the current environment.
BTC Price
At the time of writing, Bitcoin’s price floats around $24.5k, up 6% in the last seven days. Over the past month, the crypto has gained 21% in value.
The below chart shows the trend in the price of the coin over the last five days.

Source: BTCUSD on TradingView

Пов'язані матеріали

South Korea Moves to Regulate Cross-Border Crypto Transfers Under New Framework

South Korea is expanding its regulatory framework for cross-border virtual asset transfers, set to launch in December, by including fintech companies. Under the new rules, firms conducting such transfers must register with the Ministry of Economy and Finance and report transactions through the foreign exchange system. The move aims to bring previously unsupervised crypto transfers under formal oversight to address money laundering and crime risks. While initial expectations were that major crypto exchanges like Upbit would dominate the new licensing system, regulators now plan to extend eligibility to non-traditional entities, including fintech firms, if they can efficiently perform transfers. Authorities are finalizing implementation rules with industry stakeholders ahead of the December launch. This framework is part of broader efforts to strengthen digital asset oversight in South Korea, which includes developing rules for tokenized securities, potentially subjecting them to securities taxes.

TheNewsCrypto1 год тому

South Korea Moves to Regulate Cross-Border Crypto Transfers Under New Framework

TheNewsCrypto1 год тому

Matt Damon To Speak At Ripple Swell As Water.org’s RLUSD Push Draws Attention

Matt Damon is scheduled to deliver a keynote at Ripple Swell 2026, representing the non-profit Water.org which he co-founded. His appearance highlights a partnership between Water.org’s "Get Blue" campaign and Ripple, the campaign’s exclusive digital asset and payments partner. Ripple will utilize its payment network and RLUSD stablecoin to facilitate faster, lower-cost cross-border transactions for the campaign’s microfinance partners. This collaboration provides RLUSD with a mainstream, humanitarian use case focused on operational efficiency in aid funding, moving beyond typical stablecoin narratives centered on trading and finance. For Ripple, the partnership offers a reputational boost by framing its technology as practical payment infrastructure for social impact, though the actual adoption and scale of such use cases remain to be seen.

bitcoinist1 год тому

Matt Damon To Speak At Ripple Swell As Water.org’s RLUSD Push Draws Attention

bitcoinist1 год тому

Microsoft Identifies New Crypto Malware Targeting Wallet Addresses and Private Keys

In February 2026, Microsoft identified a new crypto clipper malware, dubbed Trojan/CryptoBandits.A, targeting Windows systems. The malware spreads via malicious shortcut files on USB drives and operates without a traditional installer or control servers by leveraging Windows Script Host and ActiveX to deploy a Tor proxy. Once active, it runs two modules: one for spreading and another for stealing information. The malware continuously monitors the clipboard for 12 or 24-word recovery phrases, Bitcoin/Ethereum private keys, and wallet addresses. When a user copies a wallet address, the malware silently swaps it with one controlled by attackers to divert funds. It also captures screenshots to gather information on wallet balances and user activity, sending data through Tor connections. Additional capabilities include remote code execution and persistence via scheduled tasks. Microsoft advises disabling auto-run features, restricting script interpreters and executable shortcuts from USB drives, and monitoring for suspicious activities like JavaScript execution, localhost:9050 proxy use, PowerShell screenshot capture, and clipboard monitoring.

TheNewsCrypto1 год тому

Microsoft Identifies New Crypto Malware Targeting Wallet Addresses and Private Keys

TheNewsCrypto1 год тому

No Sales Team, $20 Million in Revenue: How Did AI Employee Viktor Win Over 30,000 Companies?

The AI employee Viktor, developed by a team with DeepMind background, has achieved $20 million in annual revenue without a traditional sales team, serving over 30,000 companies. Its core innovation lies in positioning itself as a "Tier 3 AI Coworker" capable of "end-to-end execution and delivery of results," moving beyond the "draft and wait for human completion" model of typical AI assistants. Users can simply mention Viktor in Slack or Microsoft Teams using natural language commands, and it autonomously performs tasks like pulling sales data from a CRM, generating reports, or even cross-tool operations like creating board meeting PPTs by aggregating data from six different sources. Key to its growth is a pure Product-Led Growth (PLG) model, eliminating complex implementation cycles and per-seat licensing. Instead, it charges based on task credits or consumption, lowering the trial barrier with a $100 free credit offer and no credit card required. This enabled viral, bottom-up adoption within organizations. Viktor's interaction paradigm removes the barrier of prompt engineering, allowing non-technical employees to delegate complex workflows seamlessly. It also features proactive, automated task execution (e.g., overnight bookkeeping, scheduled reports) based on triggers, effectively embedding AI as an automated "process layer" within business operations. However, its expansion into Microsoft Teams—a platform with 320 million users—highlights challenges. Large enterprises require stringent IT compliance, security reviews (e.g., SOC 2), and governance, potentially hindering the frictionless, user-driven adoption that succeeded in Slack. Additionally, the "black box" nature of its autonomous decision-making raises concerns about operational risks, data integrity, and the need for robust audit logs and permission controls. Balancing efficiency gains with security and trust remains a critical hurdle for Viktor and similar AI agents aiming to become core enterprise infrastructure.

marsbit2 год тому

No Sales Team, $20 Million in Revenue: How Did AI Employee Viktor Win Over 30,000 Companies?

marsbit2 год тому

Interview with CoreWeave Co-founders: AI Demand Seems to 'Intensify' Every Day

An Interview with CoreWeave Executives: AI Demand Seems to 'Intensify' Every Day In an interview, CoreWeave executives highlight a structural shift in AI infrastructure demand. While GPU availability remains crucial, the primary bottlenecks are evolving to include powered data center shells, skilled labor (like electricians), and complex supply chain execution. They note that AI demand, particularly for agentic AI and reasoning models, continues to intensify daily, accelerating since Q1 2024. This demand is driving a need for more balanced infrastructure. CoreWeave is redesigning data centers to allocate more space for storage and CPUs alongside GPUs, with significant interest in Nvidia's upcoming Vera CPUs. The company, serving top AI labs and hyperscalers, emphasizes its client-driven model, building precisely to customer specifications. CoreWeave attributes its competitive edge to proven execution, performance, and a mature platform for AI deployment. Pricing is structured to pass component cost increases (e.g., for HBM memory) to customers, protecting margins. Looking ahead, they anticipate Vera Rubin platform deployments to begin meaningfully in late 2025, with a major ramp throughout 2027, mirroring the Blackwell (GB) series rollout pattern. The competition is shifting from merely acquiring chips to holistic engineering and delivery capability.

marsbit2 год тому

Interview with CoreWeave Co-founders: AI Demand Seems to 'Intensify' Every Day

marsbit2 год тому

Торгівля

Спот

Ф'ючерси