Bitcoin (BTC) Miners Double Exchange Inflows, Reaching 50 BTC Per Day Amid Gradual Progress Toward ATHs

Amid Bitcoin's ($BTC) gradual progress toward all-time highs (ATHs), miners are significantly backing the further upsurge.

Bitcoin (BTC) miners are significantly backing the further upsurge of the flagship cryptocurrency as it continues its gradual progress toward all-time highs (ATHs).

As per the data from Axel Adler Jr., Bitcoin (BTC) miners have stepped up their operations, leading to huge exchange inflows to expedite upward price trajectory.

The crypto analyst took to social media to share insights into the rapid miner activity amid Bitcoin’s steady upswing.

Bitcoin Miners Exchange Inflows Rise by 2x, Reaching 50 BTC Per Day

The crypto analyst's data reveals that the Bitcoin miners are currently offloading nearly fifty BTC daily. This marks a 2x spike compared to the 25 BTC every day when it comes to exchange inflows. However, in harmony with the historical peaks, the miner inflows have previously touched 100 BTC per day. This suggests that the miner selling rate has not yet attained euphoric levels despite a significant jump.

According to the market statistics, the present inflow uptick aligns with a broader bullish market sentiment as Bitcoin (BTC) is confidently trading above the $109K mark. Its current price is at $109,635, showing a 16.61% increase over the past twenty-four hours.

In terms of weekly price performance, Bitcoin has effectively jumped by 4.27%. Along with that, over the past 30 days, Bitcoin (BTC) shows a staggering 16.64% rise.

According to the data from Glassnode, the Bitcoin miners have reduced their selling pressure as the 30-day rolling average of realized net inflow by miners has dropped to 68 BTC on July 17.

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