Bitcoin Ownership, Miners Have a Story You’ve Never Heard of

Seems like a change season for bitcoin after news of changing ownership patterns.

Cryptographic reporter Colin Wu mentioned About the massive BTC liquidations in recent days. As per its update, a previously dormant address for over nine years has liquidated a full balance of 5,001.51 BTC.

The transfer took place on August 28 which eventually brought in more than $96 million in revenue. There are three other Bitcoin addresses of the same origin as two of them contain 5k BTC and the third contains 6,071 BTC. However, these addresses do not yet show any transfer activity.

Bitcoin has changed recently

Wu claimed that another address containing 5,000 BTC transferred possessions on August 30, worth about $100 million. This was done in as many as 148 BTC transactions.

Additionally, cryptanalyst Ali Martinez reflected On changing property patterns with a new note. He stated that the number of addresses with a balance of 10,000 BTC or more has fallen by 5.83% in the past three weeks.

Source: Ali Martinez / Twitter

Martinez too updated About the changing pattern of bitcoin ownership between the two miners. As per his observation, miners have not shown signs of hoarding yet.

Bitcoin miners’ reserves have hovered around 1.85 million BTC last week. The chart below shows that the previous highs above 1.85 million bitcoins won’t be tested any time soon.

This is a particularly bearish note for the Bitcoin community at the moment.

Source: Ali Martinez / Twitter

Despite the recent drop below $20,000, bitcoin holders achieved a rare feat on August 30. according to glass knotProfit Heads (7d MA) just hit a monthly low of 24,064,074.

Source: Glassnode

Despite the recent rise in fortunes, bitcoin holders remain alert to risky market conditions.

Cheer on the recent recovery of Bitcoin price on the daily chart as the price is up 3% in the last day. This brings the price of BTC above $20,400 at press time and provides a quick boost to the community.

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