Here’s why ‘safe’ Bitcoin miners sold big right before the halving

holdings cratered to a 12-month low ahead of the now-completed halving event, according to IntoTheBlock. This could be a sign that the network’s miners sold off their coins before the halving actually happened.

As Bitcoin goes into the halving, miners' BTC holdings hit 12 year low. This indicates that miners have been net sellers leading up to the halving.The surge in coin sell-offs from BTC miners before their rewards got slashed was gleaned from the spike observed in the coin’s Miner to Exchange Flow. The Miner to Exchange Flow metric measures the amount of BTC flowing from miners to exchanges. When this metric rallies, miners are selling more BTC than they are mining. This is often interpreted as a sign that miners are bearish on the price of Bitcoin.data, on 19 April, BTC miners sent 366 BTC valued at $23.45 million at current market prices to crypto-exchanges. This represented a 128% spike from the 126 BTC that was sent to exchanges by miners on 18 April.

At press time, BTC was valued at $64,262, on the back of a minor 3% price uptick in 24 hours, according to However, during that period, daily trading volume declined by 8%. This divergence may hint at the possibility of a price retraction in the short term as exhaustion begins to set in.Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience. With a keen interest in blockchain technology and its limitless possibilities, Abiodun spends his time understanding the technology, building projects, and educating people about it.

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