Cryptocurrency Miners Pull Out 36K Bitcoin Amid Positive Market Indications

Cryptocurrency miners have withdrawn over 36,000 Bitcoin (BTC) from various exchanges since February started. The action, more prominent than previous months, suggests a shift in how they handle their assets. Reportedly, over 12,000 BTC were withdrawn from Binance, while the rest were spread across different exchanges. This significant transfer is usually linked to long-term storage or confidence in future price growth. Daily withdrawals also increased during this period, with a single day witnessing a removal of over 6,000 BTC, the highest since last November. In addition to miners, long-term holders accumulated 380,104 BTC in the past 30 days, indicating sustained demand. Despite the price of BTC falling close to $60,000 at one point in February, experts describe the downtrend as an "orderly deleveraging," suggesting a controlled reduction in leveraged positions rather than panic-driven liquidations.