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25/05/26 04:51 UTC-04

Miners’ Behavior Does Not Confirm Bitcoin Bottom Formation — CryptoQuant

Bitcoin miners remain cautious and are not yet showing confidence that the market has completed its bottoming phase, according to analysts at the on-chain analytics platform CryptoQuant.

A number of on-chain indicators continue to signal caution among market participants. One such signal highlighted by CryptoQuant analysts is the decline in the Binance Pool Miner Reserve metric, which reflects the amount of Bitcoin held in wallets belonging to miners operating through Binance Pool. The metric’s dynamics indicate that pool participants continue reducing their reserves of the leading cryptocurrency.

Binance Pool remains one of the крупнейших players, controlling a significant share of the global hash rate. Changes in the behavior of pool participants are often viewed by on-chain analysts as an early indicator of overall market sentiment.

According to CryptoQuant specialists, current market dynamics suggest that miners still do not see sufficient reasons for aggressive Bitcoin accumulation. While such behavior is often observed during the formation of a market bottom, declining reserves indicate that part of the mined coins continues flowing onto the market.

According to the analysts, this continues to maintain short-term pressure on the price of the leading cryptocurrency. Until Bitcoin demonstrates stable demand, miners are unlikely to change their behavior, CryptoQuant experts concluded.

Earlier, the mining company American Bitcoin, co-founded by U.S. President’s son Eric Trump, reported a net loss of $81.8 million for the first quarter of the year. In the previous quarter, the company posted a loss of $59.5 million.

See also: "Tom Lee’s Bitmine Purchased 60,000 ETH Amid Potential Russell 1000 Inclusion"

#Mining #Bitcoin (BTC)

Editor: Yulia Krasnaya
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