Cryptocurrency Miners Are Abandoning Their Holding Strategies

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According to a report conducted by CryptoQuant, the pressure on Bitcoin has intensified after breaking the $23,000 barrier and cryptocurrency miners have changed their strategies and started to sell BTC.

Even though mining pools mainly accumulated BTC and refused to send coins to exchanges in late 2022, they have started to sell the asset in trading floors since the beginning of the month.

The MPI index has increased from -0.85 to +3.25 over the past 3 weeks, which clearly shows an increase in the reserves of miners on exchanges. The experts of the company have noted that mining pools are mainly selling their Bitcoins on Coinbase and Binance, as well as on OTC platforms.

Recall that the hashrate of Bitcoin set a new record on January 20, when it exceeded 276.898 (Eh/s).

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