Bitcoin (BTC) miners may have already sparked a “capitulation event,” fresh analysis has concluded. In an update on June 24, Julio Moreno, senior analyst at on-chain data firm CryptoQuant, hinted that the BTC price bottom could now be due. BTC price bottom “typically” follows miner capitulation Miners have seen a...
Key Takeaways Multiple reports indicate that Bitcoin miners are selling off more coins to cover the cost of their operations. Miners have sold an estimated $500 million worth of Bitcoin so far in June, shrinking their stockpiles by almost a third. The forced selling could stifle any meaningful recovery for...
Be[in]Crypto takes a look at Bitcoin (BTC) on-chain indicators, focusing this week on the Market-Value-To-Realized-Value (MVRV), Reserve Risk and Puell Multiple. MVRV Z-Score MVRV is defined as the ratio between the market and realized capitalization levels. Values higher than one show that the market cap is larger than the realized cap. The...
