The ByteTree Miner Rolling Inventory Indicator & What It Reveals About the Bitcoin Market!

Crypto traders and investors often often look for novel new ways to access on-chain data to better understand the market and what price might do next, and one major factor is the #Bitcoin networks of miners and what is going on with their existing Bitcoin inventory in supply,.


Justin Wise takes a look at ByteTree's Miner Inventory Indicator, which attempts to gauge miner sentiment by providing a reading into whether Bitcoin miners are currently selling more Bitcoin than they are producing.


Interestingly enough, ByteTree's own research revealed a counter-intuitive correlation with MRI to price action; turns out, miners dumping onto the market coincides with bullish market trends, more so than bearish periods of price action.


Related Links:
https://bitcoinnews.com/news/cryptocurrency-news/miners-rolling-inventory-explained-a-useful-tool-for-diagnosing-crypto-market-sentiment/
https://bytetree.com/insights/2020/02/bytetree-indicator/
https://terminal.bytetree.com/bitcoin


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