Odaily Planet Daily News Research and analysis show that during market sell-offs, miners have less and less influence on BTC price movements. Glassnode disclosed data showing that centralized exchanges and US spot Bitcoin exchange-traded funds (ETFs) have the greatest influence on BTC price movements. As of July 2024, centralized exchanges still hold more than 3 million BTC, while spot Bitcoin ETFs manage 887,000 BTC, compared to miners’ associated wallets holding about 705,000 BTC. Glassnode said this shows that the impact of Bitcoin ETF physical fund flows on the market may be about 4 to 8 times higher than that of miners. (Cointelegraph)