Miner holdings declines and reduced exchange supply drive Bitcoin price upward trends.
Social volume spikes around Bitcoin mining often coincide with high price volatility.
Dogecoin miner supply recovery in 2024 shows inverse relationship with price movements.
Crypto traders have long focused on the actions of whales when trying to understand market moves, but according to analytics firm Santiment, there is a growing interest in tracking total miner balances as a powerful signal for potential market changes.
As trading strategies become more sophisticated, paying attention to miner holdings offers fresh insights on price action, volatility, and market sentiment.
Crypto miner behavior is often overlooked at the expense of whales. However, traders are increasingly focusing in on total miner balances as great alpha to signal changes in market directions. Read our deep dive about miners being no minor deal: https://t.co/o6WkK9pVzZ pic.twitter.com/nbcg6XPneh
— Santiment (@santimentfeed) September 18, 2024
Miner Holdings vs. Exchange Supply
The total amount of Bitcoin (BTC) and Dogecoin (DOGE) held by miners has proven to be a valuable tool in predicting…
The post Miners Are the New Whales: Here’s How to Decode Their Moves appeared first on Coin Edition.
