🚀 Bitcoin Surges to $70,700 as Miner Reserves Deplete 📉
Bitcoin has hit a new high of $70,700, the highest in nearly two weeks! 🎉 This surge comes as mining reserves drop to their lowest level since the start of the year.
🔍 Key Points:
1️⃣ Price Surge: Bitcoin is up to $70,700.
2️⃣ Mining Reserves: Dropped to their lowest since January.
3️⃣ RSI & MFI: Relative Strength Index at 57.72 and Money Flow Index at 40.95 show a mix of buying and selling activity.
4️⃣ Current Reserves: 1.81 million BTC held by miners, worth $125 billion.
5️⃣ Miner Activity: Miners are selling BTC to cover costs or take profits, often through OTC markets or direct transactions, not just exchanges.
6️⃣ Exchange Flow: BTC flow from miners to exchanges has decreased by 48% over the past three months.
Stay tuned for more crypto insights! 👍
🚨 Disclaimer:
Crypto investments are highly volatile. This post is for informational purposes only and not financial advice.
