Bitcoin indicates heightened scarcity as miners hold more of their assets instead of selling. The recent 44% drop in the Miners’ Position Index hints at reduced selling pressure, showcasing confidence among miners in potential future price increases.
Despite a net outflow of 28.5 million USD from exchanges, the increase of 29% in the NVT ratio signals valuation risks. This may suggest that while scarcity persists, the activity levels do not fully justify current Bitcoin prices.
Leave a Reply