{"id":545103,"date":"2023-07-31T06:55:29","date_gmt":"2023-07-31T06:55:29","guid":{"rendered":"https:\/\/wncen.com\/?p=545103"},"modified":"2024-06-11T08:08:46","modified_gmt":"2024-06-11T08:08:46","slug":"bitcoin-miner-reserve-rising-good-news-for-btc-bulls","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-miner-reserve-rising-good-news-for-btc-bulls\/","title":{"rendered":"Bitcoin Miner Reserve Rising: Good News For BTC Bulls?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Bitcoin prices have been stagnant, trading below the psychological $30,000 level. The coin is technically under pressure, declining from its peaks of around $31,800 recorded in early July 2023.\u00a0<\/span><span data-preserver-spaces=\"true\">Amid this development, on-chain data <a href=\"https:\/\/cryptoquant.com\/asset\/btc\/chart\/miner-flows\/miner-reserve?miner=all_miner&amp;window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line\" target=\"_blank\" rel=\"noopener nofollow\">reveals<\/a> that the Bitcoin miner reserve has been increasing, notwithstanding prevailing market conditions, bouncing back from May 2023 lows. According to data from CryptoQuant, the BTC miner reserve stands at 1.841 million as of July 30, up from 1.826 million on May 27.<\/span><\/p>\n<figure id=\"attachment_545104\" aria-describedby=\"caption-attachment-545104\" style=\"width: 4287px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-545104\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?resize=4287%2C2700\" alt=\"Bitcoin Miner Reserve - All Miners\" width=\"4287\" height=\"2700\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=4287 4287w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=2048 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=1140 1140w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-All-Miners.png?w=3000 3000w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-545104\" class=\"wp-caption-text\">Bitcoin Miner Reserve &#8211; All Miners: CryptoQuant<\/figcaption><\/figure>\n<h2><strong>Bitcoin Miner Reserve Rising<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">The increasing BTC miner reserve and relatively stable and steady coin prices suggest a sense of optimism among miners. This could improve sentiment and confidence among miners, possibly boosting prices and preventing sellers from pressing the coin even lower. Presently, as mentioned earlier, BTC is trending below $30,000.<br \/>\n<\/span><\/p>\n<figure style=\"width: 1226px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/Wgxl7h5E\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/Wgxl7h5E\/\" alt=\"BTC price on July 30| Source: BTCUSDT on Binance, TradingView\" width=\"1226\" height=\"595\"><\/a><figcaption class=\"wp-caption-text\">BTC price on July 30 | Source: <a href=\"https:\/\/www.tradingview.com\/x\/Wgxl7h5E\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">In crypto, the Bitcoin miner reserve measures all BTC in the hands of all miners and mining pools. It shows the total number of BTC that is yet to be liquidated. Price-wise, this is important. Miners frequently sell their coins to cover operational costs and realize profits. Therefore, trackers often monitor their trading patterns for valuable insights into market sentiment.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/shiba-inu-whales-snag-1-trillion-tokens\/\" target=\"_blank\" rel=\"noopener \">Shibarium Hype: Shiba Inu Whales Boost Appetite, Snag 1 Trillion SHIB Tokens<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Bitcoin miner reserve trends are important for traders. However, other critical factors could influence prices in future sessions, some of which might have adverse effects. One key consideration is how different countries decide to regulate cryptocurrencies, including Bitcoin, as their move can impact liquidity and investor perception.\u00a0<\/span><\/p>\n<h2><strong>Regulation, Energy Consumption Criticism Negative For Prices<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">In the United States, for instance, the approval or rejection of a Bitcoin Spot ETF by the Securities and Exchange Commission (SEC) could significantly affect Bitcoin&#8217;s price in the months ahead. The approval of a Bitcoin ETF would enable institutional players to include Bitcoin in their portfolios, injecting capital into the crypto markets and potentially increasing liquidity. Currently, Grayscale&#8217;s GBTC, a close-ended trust, allows institutions to get exposure to Bitcoin without directly buying BTC.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/new-ethereum-wallets-before-theyre-dumped\/\" target=\"_blank\" rel=\"noopener \">Here\u2019s How Long The Majority Of New Ethereum Wallets Are Used Before They\u2019re Dumped<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Beyond price-related factors, Bitcoin&#8217;s proof-of-work network has faced criticism for its substantial energy consumption to power its operations. In response to environmental concerns, China banned Bitcoin and crypto mining activities, resulting in a drop in the network&#8217;s hash rate and negatively impacting BTC prices. Whether the US and Europe will follow a similar path in the future could also have implications for Bitcoin&#8217;s price trajectory.<\/span><\/p>\n<div class=\"disclaimer-shortcode\"><em>Featured image from Canva, chart from TradingView<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin prices have been stagnant, trading below the psychological $30,000 level. The coin is technically under pressure, declining from its peaks of around $31,800 recorded in early July 2023.\u00a0Amid this development, on-chain data reveals that the Bitcoin miner reserve has been increasing, notwithstanding prevailing market conditions, bouncing back from May 2023 lows. According to data from CryptoQuant, the BTC miner reserve stands at 1.841 million as of July 30, up from 1.826 million on May 27. Bitcoin Miner Reserve Rising The increasing BTC miner reserve and relatively stable and steady coin prices suggest a sense of optimism among miners. This could improve sentiment and confidence among miners, possibly boosting prices and preventing sellers from pressing the coin even lower. Presently, as mentioned earlier, BTC is trending below $30,000. In crypto, the Bitcoin miner reserve measures all BTC in the hands of all miners and mining pools. It shows the total number of BTC that is yet to be liquidated. Price-wise, this is important. Miners frequently sell their coins to cover operational costs and realize profits. Therefore, trackers often monitor their trading patterns for valuable insights into market sentiment. Related Reading: Shibarium Hype: Shiba Inu Whales Boost Appetite, Snag 1 Trillion SHIB Tokens Bitcoin miner reserve trends are important for traders. However, other critical factors could influence prices in future sessions, some of which might have adverse effects. One key consideration is how different countries decide to regulate cryptocurrencies, including Bitcoin, as their move can impact liquidity and investor perception.\u00a0 Regulation, Energy Consumption Criticism Negative For Prices In the United States, for instance, the approval or rejection of a Bitcoin Spot ETF by the Securities and Exchange Commission (SEC) could significantly affect Bitcoin&#8217;s price in the months ahead. The approval of a Bitcoin ETF would enable institutional players to include Bitcoin in their portfolios, injecting capital into the crypto markets and potentially increasing liquidity. Currently, Grayscale&#8217;s GBTC, a close-ended trust, allows institutions to get exposure to Bitcoin without directly buying BTC.\u00a0 Related Reading: Here\u2019s How Long The Majority Of New Ethereum Wallets Are Used Before They\u2019re Dumped Beyond price-related factors, Bitcoin&#8217;s proof-of-work network has faced criticism for its substantial energy consumption to power its operations. In response to environmental concerns, China banned Bitcoin and crypto mining activities, resulting in a drop in the network&#8217;s hash rate and negatively impacting BTC prices. Whether the US and Europe will follow a similar path in the future could also have implications for Bitcoin&#8217;s price trajectory. Featured image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":545105,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,86334,640,15899,3799],"class_list":["post-545103","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-miner-reserve","tag-bitcoin-mining","tag-hash-rate","tag-sec"],"acf":[],"yoast_head":"\n<title>Bitcoin Miner Reserve Rising: Good News For BTC Bulls?<\/title>\n<meta name=\"description\" content=\"Bitcoin miner reserve is rising while BTC prices are trending below $30,000. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Miner Reserve Rising: Good News For BTC Bulls?","url":"http:\/\/wncen.com\/news\/bitcoin-miner-reserve-rising-good-news-for-btc-bulls\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-miner-reserve-rising-good-news-for-btc-bulls\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-BTC-Bulls.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/Bitcoin-Miner-Reserve-BTC-Bulls.jpg?fit=1380%2C780"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin miner reserve","bitcoin mining","hash rate","sec"],"dateCreated":"2023-07-31T06:55:29Z","datePublished":"2023-07-31T06:55:29Z","dateModified":"2024-06-11T08:08:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Miner Reserve Rising: Good News For BTC Bulls?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-miner-reserve-rising-good-news-for-btc-bulls\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-miner-reserve-rising-good-news-for-btc-bulls\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Bitcoin-Miner-Reserve-BTC-Bulls.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Bitcoin-Miner-Reserve-BTC-Bulls.jpg?fit=1380%2C780\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin miner reserve\",\"bitcoin mining\",\"hash rate\",\"sec\"],\"dateCreated\":\"2023-07-31T06:55:29Z\",\"datePublished\":\"2023-07-31T06:55:29Z\",\"dateModified\":\"2024-06-11T08:08:46Z\"}<\/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\/2023\/07\/Bitcoin-Miner-Reserve-BTC-Bulls.jpg?fit=1380%2C780","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/545103","targetHints":{"allow":["GET"]}}],"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\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=545103"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/545103\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/545105"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=545103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=545103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=545103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}