Between November 2023 and July 2024, a significant amount of bitcoin left miner wallets, marking one of the lengthiest distribution periods ever recorded. This movement of over 30,000 bitcoin raised concerns about the market’s stability and the ability of miners to adapt to changing conditions.
However, recent data suggests a shift in the trend. Since July, miner balances have remained relatively stable, indicating a possible accumulation phase. This development is a positive sign that the remaining miners are adjusting well to the new environment and are capable of weathering market fluctuations.
Overall, the resilience of miners and their ability to adapt to changing market conditions bode well for the future of bitcoin and the cryptocurrency market as a whole.
