Bitcoin Recovers From $100K Dip While On-Chain Data Shows Rising Miner Activity
Summary
Bitcoin is recovering after a sharp dip caused by tensions between Donald Trump and Elon Musk, with its price rebounding to $104,891. Recent data highlights increased Bitcoin transfers from miners to exchanges, exceeding $1 billion per day between May 19 and May 28. This surge in miner inflows suggests potential sell-side pressure, influencing short-term supply dynamics and market volatility. Historically, such spikes in miner outflows have led to downward price pressure, especially in unstable market conditions. Traders monitor these flows to assess risks, as they indicate miners' sentiment on profitability and market expectations.
