Miners Load Up: Bitcoin Holdings Increase by 4,500 BTC in July

IconCryptoNewsTerminal Staff19 Jul, 2024

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Miners Load Up: Bitcoin Holdings Increase by 4,500 BTC in July

Crypto market data analytics platform IntoTheBlock shared via its official Twitter handle, "Miners increased their BTC balance by 4,500 BTC in July." This comes after Bitcoin miners' BTC holdings fell to their lowest level since February 2010 in June. The increase in miners' BTC balance suggests that they are becoming more bullish on the cryptocurrency's long-term prospects. This is in line with the recent rally in the Bitcoin price, which has seen it rise by over 20% in the past month. If miners continue to accumulate BTC, it could provide a further boost to the cryptocurrency's price. However, it is important to note that the cryptocurrency market is volatile and anything can happen.

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