Bitcoin miner reserves fell to approximately 1.832 million BTC, the lowest point since May

According to CryptoQuant data, following a large number of withdrawals this week, the Bitcoin reserves of cryptocurrency miners have dropped to the lowest point since May. This indicates increasing selling pressure, as miner reserves measure the amount of tokens held in subsidiary miner wallets and may foreshadow sell-offs as tokens are transferred to cryptocurrency exchanges. Currently, Bitcoin miners hold approximately 1.832 million BTC reserves, which is lower than the peak of 1.845 million in October. Previously, AliCharts pointed out in a social media post that miners had sold 3,000 Bitcoins (BTC) in the past 24 hours, equivalent to about $129 million.