Bitcoin Miners Offload Holdings
As Bitcoin prices hovered between $69K-$71K, miners are increasingly offloading holdings. Significant transfers to exchanges and OTC desks highlight growing pressures amid falling revenues post-halving.
On June 9th, over 3,000 BTC were transferred mostly to Binance, contributing to a drop in Bitcoin’s price to $66K. The following day, OTC desks saw a surge with 1,200 BTC sold, the highest daily volume since late March.
Marathon Digital has ramped up their sales dramatically, offloading 1,400 BTC in June—a steep rise from just 390 BTC in May. This accounts for 8% of their previous holdings.
The halving has resulted in decreased transaction fees and a persistently high network hashrate, which has only seen a minor decline of 4% post-halving. These factors are squeezing miner revenues.
Historical trends suggest that sustained low revenues and high hashrate could point to a potential market bottom, hinting at possible stabilization or recovery.
Dive into all the details in our latest Crypto Weekly Report.
@cryptoquant_official
As Bitcoin prices hovered between $69K-$71K, miners are increasingly offloading holdings. Significant transfers to exchanges and OTC desks highlight growing pressures amid falling revenues post-halving.
On June 9th, over 3,000 BTC were transferred mostly to Binance, contributing to a drop in Bitcoin’s price to $66K. The following day, OTC desks saw a surge with 1,200 BTC sold, the highest daily volume since late March.
Marathon Digital has ramped up their sales dramatically, offloading 1,400 BTC in June—a steep rise from just 390 BTC in May. This accounts for 8% of their previous holdings.
The halving has resulted in decreased transaction fees and a persistently high network hashrate, which has only seen a minor decline of 4% post-halving. These factors are squeezing miner revenues.
Historical trends suggest that sustained low revenues and high hashrate could point to a potential market bottom, hinting at possible stabilization or recovery.
Dive into all the details in our latest Crypto Weekly Report.
@cryptoquant_official
👍19❤10🔥3🙏3
Whales Actively Transfer TON Ahead of Significant Price Surge
“In the following months, the price began to rise and is now above $7. Monitoring whale movements in the future can help identify potential price peaks.” – Link
By maartunn | @cryptoquant_official
“In the following months, the price began to rise and is now above $7. Monitoring whale movements in the future can help identify potential price peaks.” – Link
By maartunn | @cryptoquant_official
🐳22👍12❤4
Bitcoin reserves on Coinbase have been rapidly declining since February 2024
“While there were 1,044,997 Bitcoins on February 18, 2024, the reserves on the Coinbase exchange dropped to 878K following the increased demand due to Spot ETFs.” – Link
By burakkesmeci | @cryptoquant_official
“While there were 1,044,997 Bitcoins on February 18, 2024, the reserves on the Coinbase exchange dropped to 878K following the increased demand due to Spot ETFs.” – Link
By burakkesmeci | @cryptoquant_official
👍19🔥6❤4
Spent Output Age Bands (%)
“40% of the sent Bitcoins are in the 3M-6M range, 20% are in the 6M-12M range, and the remaining portion is mixed. These sent Bitcoins will create selling pressure.” – Link
By XBTManager | @cryptoquant_official
“40% of the sent Bitcoins are in the 3M-6M range, 20% are in the 6M-12M range, and the remaining portion is mixed. These sent Bitcoins will create selling pressure.” – Link
By XBTManager | @cryptoquant_official
👍14❤8🔥2🤔2😭1
The Open Network (TON) hit all-time high, $7.3 turned support
“A few days ago, the price peaked at $7.3, but that level has now been broken and turned into support. As long as that level sticks around, this is a really bullish chart. ” – Link
By maartunn | @cryptoquant_official
“A few days ago, the price peaked at $7.3, but that level has now been broken and turned into support. As long as that level sticks around, this is a really bullish chart. ” – Link
By maartunn | @cryptoquant_official
❤21👍8🔥4🤔4
Retail is Not Here Yet
“This structure suggests that we have not yet reached the peak euphoria of this cycle. The predominance of long-term holders in the market forms a more solid price support base.” – Link
By Gustavo Faria | @cryptoquant_official
“This structure suggests that we have not yet reached the peak euphoria of this cycle. The predominance of long-term holders in the market forms a more solid price support base.” – Link
By Gustavo Faria | @cryptoquant_official
👍21❤9🔥5😱1
3 Reasons Behind the Recent Cryptocurrency Market Declines
“While current conditions are causing fear and selling among short-term investors, the strong support level of around $62,400 for short-term holders' average realized price could help stabilize prices in the near term.” – Link
By IT Tech | @cryptoquant_official
“While current conditions are causing fear and selling among short-term investors, the strong support level of around $62,400 for short-term holders' average realized price could help stabilize prices in the near term.” – Link
By IT Tech | @cryptoquant_official
❤16👍7💯4
MVRV near the Distribution Region
“Therefore, the current phase is Neutral with low volatility and a tendency for a big move to follow.” – Link
By G a a h | @cryptoquant_official
“Therefore, the current phase is Neutral with low volatility and a tendency for a big move to follow.” – Link
By G a a h | @cryptoquant_official
❤16👍5🔥3
XRP in the Spotlight
“This trend suggests that as open interest rises alongside price, investors are opening more positions with the expectation of XRP's price increase.” – Link
By Woominkyu | @cryptoquant_official
“This trend suggests that as open interest rises alongside price, investors are opening more positions with the expectation of XRP's price increase.” – Link
By Woominkyu | @cryptoquant_official
🐳18👍10❤8🤯2🤔1
Join us live here on Telegram, June 20th at 10am ET as we dive into the TON Ecosystem with expert insights.
Understand TON’s activity and use cases in-depth.
Don’t miss out!
@cryptoquant_official
Understand TON’s activity and use cases in-depth.
Don’t miss out!
@cryptoquant_official
👍18❤5🔥2🤔2
The Ethereum OI data has dropped from $13 billion to $11.5 billion, giving the market some breathing space
“Following this significant increase in OI data, a sharp correction ensued, with OI data pulling back by $1.5 billion to $11.5 billion.” – Link
By burakkesmeci | @cryptoquant_official
“Following this significant increase in OI data, a sharp correction ensued, with OI data pulling back by $1.5 billion to $11.5 billion.” – Link
By burakkesmeci | @cryptoquant_official
👍14❤2😱2🔥1
On-chain metrics of TON are going parabolic!
“The transfer volume ranges between $5.0B ~ $10.0B. For comparison, Bitcoin's average daily transfer volume is around $50.0B. This indicates that TON has already achieved between 10% Bitcoin's capacity.” – Link
By maartunn | @cryptoquant_official
“The transfer volume ranges between $5.0B ~ $10.0B. For comparison, Bitcoin's average daily transfer volume is around $50.0B. This indicates that TON has already achieved between 10% Bitcoin's capacity.” – Link
By maartunn | @cryptoquant_official
👍31🔥8❤6🤔3