{"id":426349,"date":"2020-06-05T17:30:31","date_gmt":"2020-06-05T17:30:31","guid":{"rendered":"https:\/\/wncen.com\/?p=426349"},"modified":"2024-06-11T14:03:40","modified_gmt":"2024-06-11T14:03:40","slug":"bitcoin-miners-btc-post-halving","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-miners-btc-post-halving\/","title":{"rendered":"Bitcoin Miners Are Dumping BTC At a Faster Rate Post Halving, But Why?"},"content":{"rendered":"

Bitcoin’s halving<\/a> is nearly a full month behind us, yet no new uptrend or post-halving selloff has happened. Oddly, Bitcoin price has traded relatively sideways since.<\/p>\n

One metric that has changed since the halving, however, is the amount of BTC miners are dumping into the market. But why, and when will they begin to hold for higher prices?<\/p>\n

Miners Rolling Inventory Shows Increase In BTC Dumping Post-Halving<\/h2>\n

Bitcoin’s recent halving<\/a> was the most anticipated event the crypto asset has ever experienced. During past halvings, the crypto world had no idea what to expect in the days, weeks, and months following.<\/p>\n

But past cycles have shown that Bitcoin goes on parabolic rallies almost immediately after the block reward reduction.<\/p>\n

Each halving cuts the BTC reward miners receive in half. The latest halving saw this figure drop from 12.5 BTC to just 6.25 BTC.<\/p>\n

Related Reading | Bitcoin Is Overpriced According Energy Value For First Time Since September 2019\u00a0<\/a><\/strong><\/em><\/p>\n

The overnight reduction causes a sharp increase in the cost of production.<\/p>\n

Analysts have long concluded that once this happened, miners would then start to hold their BTC for marked-up prices rather than sell at a loss.<\/p>\n

But the opposite has happened – Bitcoin miners are dumping even more of their holdings than ever before, according to a metric called Miners Rolling Inventory<\/a>.<\/p>\n

\"bitcoin<\/p>\n

The Reasons Bitcoin Miners Are Dumping More Than Ever<\/h2>\n

Miners Rolling Inventory tracks the discrepancy between what miners receive each day in block rewards and what they move to exchanges to sell.<\/p>\n

An MRI of under 100% suggests that miners are stacking their sats and holding them for higher prices.<\/p>\n

Over 100% MRI indicates that miners are moving more than they are generating each day, thus tapping into reserves.<\/p>\n

Following the halving, not only did miners not slow down their selling of BTC as expected, they have begun tapping into reserves. But why?<\/p>\n

Related Reading | Bitcoin Hash Ribbons Indicate Post-Halving Miner Capitulation Has Begun<\/a><\/strong><\/em><\/p>\n

The reason is simple: to make up for lost revenue.<\/p>\n

The cost of production doubled as soon as the halving hit. BTC that was mined for far cheaper is now being sold at a higher rate to offset losses incurred from the increase in operating expenses.<\/p>\n

The weakest miners also may be closing up shop<\/a> and selling off all remaining holdings, further skewing figures.<\/p>\n

What’s interesting is that although the amount of BTC being sold by miners has increased sharply, Bitcoin price has yet to fall from the spike in selling.<\/p>\n

All this new selling is being gobbled up by the likes of Grayscale Investments and eager crypto investors seeking to get in ahead of the next bull market.<\/p>\n

Like all assets, valuations are dependent on supply and demand dynamics.<\/p>\n

Demand growing while supply also grows explains the recent consolidation in Bitcoin.<\/p>\n

Once all weak miners are purged<\/a> and stockpiled reserves begin to run shrink, miners will have no choice but to begin to hold for higher prices or also will be forced to capitulate.<\/p>\n

When the selling finally does slow, demand will take over, and the bull market will finally be ready to begin.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin’s halving is nearly a full month behind us, yet no new uptrend or post-halving selloff has happened. Oddly, Bitcoin price has traded relatively sideways since. One metric that has changed since the halving, however, is the amount of BTC miners are dumping into the market. But why, and when will they begin to hold for higher prices? Miners Rolling Inventory Shows Increase In BTC Dumping Post-Halving Bitcoin’s recent halving was the most anticipated event the crypto asset has ever experienced. During past halvings, the crypto world had no idea what to expect in the days, weeks, and months following. But past cycles have shown that Bitcoin goes on parabolic rallies almost immediately after the block reward reduction. Each halving cuts the BTC reward miners receive in half. The latest halving saw this figure drop from 12.5 BTC to just 6.25 BTC. Related Reading | Bitcoin Is Overpriced According Energy Value For First Time Since September 2019\u00a0 The overnight reduction causes a sharp increase in the cost of production. Analysts have long concluded that once this happened, miners would then start to hold their BTC for marked-up prices rather than sell at a loss. But the opposite has happened – Bitcoin miners are dumping even more of their holdings than ever before, according to a metric called Miners Rolling Inventory. The Reasons Bitcoin Miners Are Dumping More Than Ever Miners Rolling Inventory tracks the discrepancy between what miners receive each day in block rewards and what they move to exchanges to sell. An MRI of under 100% suggests that miners are stacking their sats and holding them for higher prices. Over 100% MRI indicates that miners are moving more than they are generating each day, thus tapping into reserves. Following the halving, not only did miners not slow down their selling of BTC as expected, they have begun tapping into reserves. But why? Related Reading | Bitcoin Hash Ribbons Indicate Post-Halving Miner Capitulation Has Begun The reason is simple: to make up for lost revenue. The cost of production doubled as soon as the halving hit. BTC that was mined for far cheaper is now being sold at a higher rate to offset losses incurred from the increase in operating expenses. The weakest miners also may be closing up shop and selling off all remaining holdings, further skewing figures. What’s interesting is that although the amount of BTC being sold by miners has increased sharply, Bitcoin price has yet to fall from the spike in selling. All this new selling is being gobbled up by the likes of Grayscale Investments and eager crypto investors seeking to get in ahead of the next bull market. Like all assets, valuations are dependent on supply and demand dynamics. Demand growing while supply also grows explains the recent consolidation in Bitcoin. Once all weak miners are purged and stockpiled reserves begin to run shrink, miners will have no choice but to begin to hold for higher prices or also will be forced to capitulate. When the selling finally does slow, demand will take over, and the bull market will finally be ready to begin.<\/p>\n","protected":false},"author":517,"featured_media":426361,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,78790,8080,2989,76835],"class_list":["post-426349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-btcusdt","tag-halving","tag-miners","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Miners Are Dumping BTC At a Faster Rate Post Halving, But Why?<\/title>\n<meta name=\"description\" content=\"Bitcoin's halving is nearly a full month behind us, yet no new uptrend or post-halving selloff has happened. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Miners Are Dumping BTC At a Faster Rate Post Halving, But Why?","url":"http:\/\/wncen.com\/news\/bitcoin-miners-btc-post-halving\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-miners-btc-post-halving\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-miners-btc-shutterstock_1734553949-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-miners-btc-shutterstock_1734553949-scaled.jpg?fit=2560%2C1707"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","btcusdt","halving","miners","xbtusd"],"dateCreated":"2020-06-05T17:30:31Z","datePublished":"2020-06-05T17:30:31Z","dateModified":"2024-06-11T14:03:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Miners Are Dumping BTC At a Faster Rate Post Halving, But Why?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-miners-btc-post-halving\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-miners-btc-post-halving\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/bitcoin-miners-btc-shutterstock_1734553949-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/bitcoin-miners-btc-shutterstock_1734553949-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"btcusdt\",\"halving\",\"miners\",\"xbtusd\"],\"dateCreated\":\"2020-06-05T17:30:31Z\",\"datePublished\":\"2020-06-05T17:30:31Z\",\"dateModified\":\"2024-06-11T14:03:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/bitcoin-miners-btc-shutterstock_1734553949-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/426349"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=426349"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/426349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/426361"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=426349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=426349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=426349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}