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Miners Accumulate Another 8,874 Bitcoin: Glassnode


u.today April 03 2021 10:17, UTC
Reading time: ~1 m

Miners continue to put their newly-minted Bitcoin away for storing rather than selling it and keep increasing their BTC positions.

This is confirmed by the recent Glassnode charts shared by Lex Moskovski, the CIO of the same-name investment company.

Miners increase their Bitcoin stashes

The CIO of Moskovski Capital has shared two Galssnode graphs that show that the Bitcoin Miner Position indicator has turned positive.

According to these graphs, crypto miners keep accumulating Bitcoin instead of selling it. On Friday and Saturday, they added $523,647,640 worth of Bitcoin to their long-term storage. That totals 8,874 BTC.

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As reported by U.Today earlier, miners started accumulating instead of dumping BTC first time since end of December on February 27.

Bitcoin taps $60,000 again before making a slight pullback

On April 2, the flagship cryptocurrency Bitcoin managed to recover to the $60,152 price mark. It failed to fix there, though, and a slight pullback took place.

The previous all-time high of $61,876 was reached on March 13. Since then, BTC has visited the $50,000 level on March 25 has recovered by now.

As of writing this, Bitcoin is changing hands at $59,124 at the Kraken exchange.


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