Miners Are Selling More of Their Bitcoin. That May Actually Be Bullish

Coindesk | Jun 3, 2020 at 7:39 PM
  • Despite Tuesday’s sudden price decline, miner flows suggest the bitcoin market remains strong.
  • Morris’ theory contradicts popular belief that miners, being sellers, would want to sell high and hoard their bitcoin when prices are expected to rise.
  • Bitcoin is currently up 6% on a week-on-week basis despite miners running down inventory by 504 BTC.