Bitcoin Miners Sold 63% More Coins Than Generated In a Day

With yesterday’s correction in ethereum (ETH) and many DeFi tokens also spilling over into bitcoin (BTC), bitcoin miners sold BTC 844 (USD 9.5m) in a day, or 63% more coins than they generated in the same period of time. Also, according to data from ByteTree, miners have continued to offload more bitcoin than they have mined this week, with a net outflow of BTC 812

Miner Hoards: Q2 Bitcoin Mining Supply Outflow Touches 12-Month Low

Onchain data shows that bitcoin miners are hoarding despite the 50% loss in revenue that started on May 11, during the third reward halving.

These “Dire” On-Chain Metrics Show Bitcoin Is on the Verge of Dropping to $7k

The past few days have seen Bitcoin stagnate into a tight range between $9,300 and $9,500.