CryptoQuant: Miners sell small amounts of BTC, market indicators show there is still room for further gains

CryptoQuant analysts said that since the US presidential election, Bitcoin has risen to a new high of over $93,500, and some large miners have taken the opportunity to sell some Bitcoin for profit, selling about 2,000 last week. According to CryptoQuant data, the Miner Position Index (MPI) rose from 0.89 before and after the US presidential election to 3.56, and then fell back to the current 1.81. Despite the recent selling of Bitcoin by miners, CryptoQuant analysts insist that Bitcoin's valuation indicators show that it is not yet overvalued. Continued growth in demand shows that more and more investors are entering the market. Since the election, $3.2 billion in USDT has flowed into exchanges, increasing market liquidity and bringing positive prospects for Bitcoin's price trend. (The Block)