Miners Bitcoin begin to accumulate BTC after months of sales. Unclista signal in the market?

Network data suggest that the Miners Community is beginning to accumulate BTC, which coincides with a price increase and a growing institutional interest.

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• The data in the network reveal that the miners are accumulating again BTC After months of sales
  
• An increase of more than 2,700 BTC In his wallets he points to a change in behavior
  
• The indicator Hash Ribbons a possible bullish cycle in the market again indicates
• More is bought BTC from which it occurs up to date, they point data

Bitcoin again attracts the confidence of its main responsible: the Miners Community.

After a long constant sales period, the most recent market data show significant change. Mineros wallets record a high in asset settlement, and instead are choosing to save the Bitcoins produced.

A turn in the narrative of the miners

As detailed a report published by CointelegraphIn recent months, the behavior of miners Bitcoin He has been selling most of the assets generated. Since the end of 2023, reserves of BTC In their wallets they began to decrease in a sustained way, reflecting a sales pressure that many analysts attributed to post-halving operating costs and institutional interest.

However, this trend seems to be taking a turn. According to the on-chain analysis firm data Glassnode, The fall of BTC To recent minimums in April it generated a turning point.

For April 12, miners’ purses contained about 1,794,622 BTC For May 13, that figure had increased to 1,797,330 BTC Although the increase of 2,708 BTC It represents only 0.15% of the total, it is a change of direction that for many analysts can mean a key aspect in price projection.

A signal for the price?

The turn in the behavior of the miners has not gone unnoticed in the crypto community. Historically, the accumulation of BTC by this community constitutes a bullish factor, since it limits the liquidity present in the markets, so the supply is not able to meet the growing demand seen after the entry of other investors associated with the traditional markets.

The accumulation of BTC by the miners coincides with a decrease in the sale pressure that had already been previously indicated. Cointelegraph reported that institutional purchase volumes were widely exceeding the amount of BTC mining daily, thus reducing the impact of any mining liquidation.

This reduction in the daily supply, combined with greater demand, generates expectations about a possible price increase in the short term, something that technical indicators also begin to support.

Hash Ribbons: What does this indicator say?

One of the most recognized indicators of the behavior of miners, the Hash Ribbonshas also sent a positive signal. This indicator, developed by Capriole Investmentscompares the mobile averages of the hashrat to identify periods of “capitulation” mining and possible purchase areas.

Since it issued its last purchase signal at the end of March, the price of BTC It has risen approximately 20 %. The signal remains active, which is interpreted by several analysts as an additional impulse to the positive feeling in the market.

According to analysts outlined by the middle, “Hash Ribbons continue to show a purchase signal”so the price of BTC could “climb much more in May. ”

Alcisto signs?

Throughout the history of Bitcoin, Periods of accumulation by the miners have coincided with the beginnings of prolonged bullish phases. While this type of behavior does not guarantee an immediate increase in the price, it reflects the confidence of the actors closest to the network.

It is important to consider that, after the recent halving and in a context of increasing institutional interest, the movements of the miners charge a new relevance. The dynamics between limited supply, lower selling pressure and strong demand could lay the foundations for a sustained escalation.

However, as in any volatile market, the signals must be analyzed with caution. There are still macroeconomic factors, interest rates decisions by central banks and regulatory events that can affect the price trajectory.

The new phase of accumulation by the miners, although unwilling, adds to a set of technical and fundamental signals that point to a possible strengthening of the price of Bitcoin In the short and medium term. If this trend is maintained, it could be consolidated as a starting point for a new upward chapter in the crypto market.

Meanwhile, the price of Bitcoin It is located at the time of editing at USD $ 103,732 per unit, a figure very similar to prices seen yesterday at this time, but representing an increase of 7.1% in the last seven days.

Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin

Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain

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