Bitcoin miner reserves fall to approximately 1.832 million BTC, lowest since May

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