Miner Outflow
The outflow of BTC from mining pool wallets. We define mining pool wallets in our metrics as all participants in the mining pool including individual miners.

Definition

The outflow of BTC from mining pool wallets. We define mining pool wallets in our metrics as all participants in the mining pool including individual miners.
Metrics
Description
Outflow Total
The total amount of BTC transferred from the miner.
Outflow Mean
The mean amount of BTC per transaction sent from the miner.
Outflow Top10
The total BTC amount of the top 10 transactions outflow from the miner
Outflow Mean(MA7)
The 7 days moving average of mean BTC outflow from the miner.
The mean value is the Outflow Total divided by the Transactions Count Outflow.
The outflow of BTC from mining pool wallets.
We define mining pool wallets in our metrics as all participants in the mining pool including individual miners. Miner Outflow includes Miner sending their coins to the exchanges as well as internal transfers or to other entities.

Interpretation

By value itself

  • High : A lot of miners' coins are exposed to selling - Bearish
  • Low : only a few of miners' coins are exposed to selling - Bullish

By examining trend

  • Increasing : Miners' selling power is increasing - Bearish
  • Decreasing : Miners' selling power is decreasing - Bullish

About Miners' Outflow

As said in the glossary, miners send their coins outside for various reasons.
Considering the fact that moving coins cost fees, miners' wallets send mined coins or purchased coins outside for two possible scenarios.

1) Moving to the exchanges for possible selling - Bearish

Moving their coins to the exchanges includes the purposes of selling to cover the cost or to prepare for possible sell. Both cases are correlated to sell action which naturally lead to interpret this reason to the price drop which indicates a bearish sign.

2) Internal wallet movement - Neutral

Moving their coins to miners' wallets excluding trading purposes has a neutral sign. It could be done to security issues.

Link to Our Data

Last modified 15d ago