Bitcoin miners sell more coins than they mine

Index

    According to a Arcane Research report, BTC miners are selling more coins than they mined after halving on May 11th. They draw such a conclusion based on the Miner's Rolling Inventory indicator.

    Miner's Rolling Inventory
    Miner's Rolling Inventory

    The Miner's Rolling Inventory indicator shows the difference between mined and sold bitcoins. If this indicator is below 100%, then miners accumulate cryptocurrency. The indicator of 100% means the equality between the extracted and sold BTC, and above 100% indicates additional sales from previously accumulated stocks.

    Interestingly, from January to May, miners mined more BTC than they sold, but before the halving itself, Miner's Rolling Inventory dropped below 100%. And after halving the award on May 11, sales rose again.

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