The volume of cryptocurrency traded by bitcoin miners has grown to its highest level since the beginning of 2018.
Their report says that miners are now selling about the same amount of BTC coins that they were able to sell in January 2018.
Recall that 2018 went down in history as one of the most tragic stages in the development of the cryptocurrency industry. If at the beginning of the year bitcoin kept just below $ 20,000, then in December the cryptocurrency was trading at $ 3,500.
CryptoQuant analysts noted that the indicator, reflecting the dynamics of BTC sales by miners, rose to a three-year high.
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Sales go through both crypto exchanges and over-the-counter platforms. Most likely, it was this factor that provoked the fall of the bitcoin rate this week below $ 18,000 on some trading floors.
On Thursday, December 10, the cryptocurrency is trading at $ 18,237.
The observers recorded the first alarming signals at the very beginning of December. For example, the Glassnode team tweeted that the influx of bitcoins to exchanges has skyrocketed.
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According to Robbie Liu, analyst of the OKEx platform, some big players have decided to take advantage of the November BTC rally to capitalize on the positive trend.