Analysis of Miner Coin Movements to Exchanges Over the Last 12 Months
Over the past 12 months, there has been a significant increase in the amount of Bitcoin transferred by miners to exchanges. Major spikes were observed when Bitcoin's price surpassed key levels like $30,000. In June 2023, transfer volumes reached record highs, raising concerns among market participants.

Chart: The chart below illustrates the peaks in miner coin movements to exchanges, with major spikes in June 2023, where $128 million was moved, equating to 315% of miners' daily revenue.

Conclusion: Miners' desire to secure profits amid rising Bitcoin prices may indicate their expectations of potential price drops in the near term, adding pressure to the market.