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Analysis: Bitcoin miners and whales dumping during the pump may indicate a "local top".
Odaily News CoinDesk analyst Sam Reynolds pointed out that the rise of BTC to an all-time high has triggered the largest scale of miner dumping since April, with 16,000 BTC transferred to exchanges. Data shows that last week on July 15, the inflow of Bitcoin to exchanges surged to 81,000 BTC, marking the highest daily inflow since February, mainly driven by whales and miners: the transfer volume of 100 BTC and above jumped from 13,000 BTC to 58,000 BTC, while the outflow from miners reached 16,000 BTC, almost all of which was directly deposited into exchanges. Ethereum also showed a similar pattern, with about 2 million ETH flowing into exchanges on July 16, setting the highest daily inflow since the end of February. (CoinDesk)