Bitcoin on-chain data shows that miners have transferred a huge amount of coins to cryptocurrency exchanges. On-chain Data Suggests Miners Transferred 11,816 BTC To Exchanges As pointed out by a CryptoQuant post, 20 July saw a huge outflow from Bitcoin miners. The total outflow from that day is around 12k. Here is a chart that illustrates the trend in all miners BTC outflow over the last one year: BTC miner outflow seems to have spiked There are a few interesting features in the chart. This sudden rise of almost 12k BTC observed on Wednesday is the most since May, when the price of the cryptocurrency crashed around 50%. Related Reading | As Bitcoin Drops Below $30k, Stablecoins Surpass $100 Billion In Total Supply This spike comes after a period where the miner outflows were relatively low when compared to the preceding months. As miner outflows only show how much Bitcoin…

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