Glassnode, an on-chain market intelligence, has issued a new report recently mentioning that Bitcoin (BTC) miners are trying their level best in expanding the Bitcoin (BTC) volume as the data shows that miners have recently mined and added 8,874 newly Bitcoins (BTC). It is observed that minors are more interested in storing the newly mined coins instead of selling to maintain or for increasing their Bitcoin (BTC) position. Lex Moskovski, CIO of the investment firm Moskovski Capital also confirmed the report issued by Glassnode charts about the newly mined coins and the miner’s intention of storing Bitcoins (BTC) instead of circulating in the crypto market.
Analysts from the Glassnode proclaimed that Bitcoin (BTC) mining has been proved to be going green since the 27th of December, 2020, which is a positive indicator on the miner’s side. Moreover, they added that miners are in a rush to sell Bitcoins (BTC). Rather they are storing to get higher status in the crypto world.
Miners are expanding the Bitcoin (BTC) Inventory
As per the Glassnode graphs issued by Lex Moskovski, the CIO of Moskovski Capital shows the positive turn of the Bitcoin (BTC) miners as they have mined 8,874 coins by putting all their efforts into it, and mining seems to show an optimistic era in the coming time.
According to Glassnode Charts, it is speculated that crypto miners kept on expanding the Bitcoin (BTC) inventory instead of circulating and selling it for trading purposes. As they believe that their stored coins are going to push up their status in the crypto world as Bitcoin (BTC) is going to be the most beneficial financial asset in the near future. Interestingly from Friday to Saturday, miners have added a total of 8,874 Bitcoins (BTC) worth $523,647,640 to the long-term inventory. It was reported that miners started concentrating the BTC volume instead of dumping from the end of December 2020.
Bitcoin (BTC) bounced back to $60k
On the 2nd of April, 2021, Bitcoin (BTC) managed to reach the worth of $60,000 that surprised and captivated the attention of the crypto traders as in the near past, the price value of BTC fluctuated and dropped as well, but interestingly, it struggled and regained the digit of $60K.
The price value is still lingering on the digit instead of moving up, but miners are convinced of the fact that in near coming time, BTC will reach the worth of $100K that has changed the mindset of the miners to store Bitcoins instead of selling it as it would help them to get higher position in the crypto market in the coming time.