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Crypto

Miners Unload 20,000 BTC on Binance Amid Price Resilience

Guavy AI Editorial Team
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Bitcoin miners are selling again, but this time it's not a cause for concern. According to on-chain analytics platform CryptoQuant, major mining pools recorded the largest inflow of Bitcoin to Binance since August, with 19,866 BTC transferred on September 21.

This was the biggest spike since August 25, when more than 25,000 BTC was transferred to exchanges. However, despite the scale of the inflow, Bitcoin showed strong resilience, holding around $85,400.

CryptoQuant analysts say that this activity is driven by classic business logic: historically, miners often monetize part of their production during strong markets to cover significant operating and capital expenses.

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