{"id":26547,"date":"2020-07-28T13:53:35","date_gmt":"2020-07-28T10:53:35","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=26547"},"modified":"2025-08-26T15:00:35","modified_gmt":"2025-08-26T12:00:35","slug":"report-miners-slow-to-sell-bitcoin-during-rally","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/report-miners-slow-to-sell-bitcoin-during-rally\/","title":{"rendered":"Report: Miners Slow to Sell Bitcoin During Rally"},"content":{"rendered":"<p>According to Glassnode analysts, miners are holding a large portion of the Bitcoin mined after the price cleared the psychological barrier of $10,000. This behaviour is observed amid rising inflows of coins to centralized exchanges\u2014the highest in three months.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> inflows into centralized exchanges have started to significantly increase.<\/p>\n<p>We are currently seeing the largest hourly net flow spike (24h MA) in over three months.<\/p>\n<p>Chart: <a href=\"https:\/\/t.co\/mWByVkVUEA\">https:\/\/t.co\/mWByVkVUEA<\/a> <a href=\"https:\/\/t.co\/MswxZZUeBL\">pic.twitter.com\/MswxZZUeBL<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1287651085751132160?ref_src=twsrc%5Etfw\">July 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The GNI index, reflecting the overall state of the Bitcoin blockchain, rose to 70 points. The metric includes three components:<\/p>\n<ul>\n<li>investor sentiment;<\/li>\n<li>network condition;<\/li>\n<li>liquidity.<\/li>\n<\/ul>\n<p>The largest contribution to the index&#8217;s rise came from the improvement in the sentiment sub-index by 34 points as a result of increased BTC hodlers&#8217; purchases. The improvement of the overall indicator was also influenced by the growth of the liquidity component due to coin inflows to exchanges and revival of on-chain activity.<\/p>\n<p>GNI is in bullish territory for the ninth week in a row. Last week\u2019s reading was among the highest this year.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">With <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> breaking $10k and on-chain fundamentals growing stronger, <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> hit one of its highest GNI scores this year \u2014 pushing deeper into the bullish regime.<\/p>\n<p>Read more in the latest Week On-Chain \ud83d\udc47<a href=\"https:\/\/t.co\/ftrbRbz1kE\">https:\/\/t.co\/ftrbRbz1kE<\/a> <a href=\"https:\/\/t.co\/SELOsY3Vks\">pic.twitter.com\/SELOsY3Vks<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1287796489796947968?ref_src=twsrc%5Etfw\">July 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Miners are not rushing to part with the mined coins, despite a sharp inflow of Bitcoin to centralized exchanges. Experts say this could signal confidence in further upside.<\/p>\n<div class=\"mceTemp\"><\/div>\n<div id=\"attachment_105730\" style=\"width: 1610px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-105730\" class=\"wp-image-105730 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-298.png\" alt=\"\u041e\u0442\u0447\u0435\u0442: \u043c\u0430\u0439\u043d\u0435\u0440\u044b \u043d\u0435 \u0442\u043e\u0440\u043e\u043f\u044f\u0442\u0441\u044f \u043f\u0440\u043e\u0434\u0430\u0432\u0430\u0442\u044c \u0431\u0438\u0442\u043a\u043e\u0438\u043d\u044b \u0432\u043e \u0432\u0440\u0435\u043c\u044f \u0440\u0430\u043b\u043b\u0438\" width=\"1600\" height=\"897\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-298.png 1600w, https:\/\/u1f987.com\/wp-content\/uploads\/2-298-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/2-298-1024x574.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/2-298-768x431.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/2-298-1536x861.png 1536w\" sizes=\"auto, (max-width: 1600px) 100vw, 1600px\" \/><\/p>\n<p id=\"caption-attachment-105730\" class=\"wp-caption-text\">Volume of Bitcoin transfers by miners. Source: Glassnode<\/p>\n<\/div>\n<p>One of the reasons BTC rose to a new high since September 2019 <a href=\"https:\/\/u1f987.com\/en\/news\/short-liquidations-of-500-million-fuel-bitcoin-rally-to-11000\">was the mass liquidation<\/a> of short positions in Bitcoin derivatives. The total volume of these liquidations surpassed $500 million.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to Glassnode analysts, miners are holding a large portion of mined Bitcoin after the price cleared the psychological barrier of $10,000. This behaviour is observed amid rising inflows of coins to centralized exchanges\u2014the highest in three months.<\/p>\n","protected":false},"author":1,"featured_media":26548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1137,1273,1145,1268],"class_list":["post-26547","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-mining","tag-glassnode","tag-market-analysis","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26547","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=26547"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26547\/revisions"}],"predecessor-version":[{"id":26549,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26547\/revisions\/26549"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26548"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=26547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=26547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=26547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}