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The unrest in China related to mining activities led miners to an exodus. As miners relocated their systems to Kazakhstan and the United States, among other countries, the Bitcoin miner reserves were closing in on its all-time high observed in May. Bitcoin Miner Reserves Bitcoin Miner Reserves indicates the sentiment of the miners at the current price. The number of coins they hold in their wallet suggested whether the market was witnessing a selling pressure or buying pressure. Currently, the value of this indicator was close to hitting an ATH last observed in May when the BTC value was at $56,000. At the time of press, BTC was exchanging hands at $45,355, but the miners’ reserves have reached the May peak as highlighted by the data provided by CryptoQuant. quicktake Source: CryptoQuant Miners were among the big holders of the digital asset and a lack of selling pressure from the miners can be a bullish sign of Bitcoin’s ongoing recovery. As per analyst, Jan Wuestenfeld “The fact...