Are miners sending Bitcoin to exchanges, waiting for higher prices?

Quick Take Miners are continuing to transfer Bitcoin to exchanges. As CryptoSlate identified last week, we saw the largest one-day Bitcoin transfer from miners to exchange in two years.

Timeline of Bitcoin

Arthur Hayes, the former CEO of Bitmex, predicted the coming of a bitcoin bull market in the last two quarters of 2023. In his latest article, Hayes states that for investors, patience is vital, as he explains that the U.S. Federal Reserve will be unable to control inflation as the U.S.

In an exciting development for XRP investors, a renowned crypto trader forecasts a bullish trend for the sixth-largest digital asset, predicting that it will outperform Bitcoin (BTC).

In May, the global Bitcoin ATM market witnessed a remarkable surge in installations, marking a remarkable turnaround after a year-long decline in crypto ATMs. The trend reversal brought hope for the industry, which had experienced a continuous downward trajectory in Bitcoin ATM deployments during the year's first four months.

Coinbase, the crypto exchange giant, has announced today its launch of Bitcoin and Ethereum futures contracts focusing on institutional investors. In a series of statements, the CEO of Coinbase, Brian Armstrong, revealed that new offerings are available from June 5 on Coinbase Derivatives Exchange, Coinbase's CFTC-regulated futures exchange.

Online interest in cryptocurrencies, as reflected by Google search data, has experienced a significant decline, dropping to levels last seen in late 2020. According to Google Trends, the search term “crypto” currently has a score of 17, a sharp contrast to its peak score of 100 in May 2021.

Memecoins running on the Bitcoin blockchain could be at risk as Bitcoin blockchain coders/validators want to remove them. This follows a massive surge in the Bitcoin blockchain gas prices in May last month amid strong network activity driven by Bitcoin-based memecoins like PEPE.

Major cryptocurrencies traded flat on Sunday evening even as investors appeared less concerned than they were in May, when debates surfaced among U.S. lawmakers surrounding the country's debt ceiling. Cryptocurrency Gains +/- Price (Recorded 9:30 p.m.

ALSO: The bitcoin options put/call ratio across exchanges has sunk to 0.47, suggesting that fewer investors are seeking downside protection against price declines than they had prior to the passage of a bill to raise the U.S. debt ceiling.

BTC/USD Lifted from 26999: Sally Ho's Technical Analysis – 5 June 2023 Bitcoin (BTC/USD) continued to trade relatively sideways early in the Asian session as the pair was lifted from the 26999.25 area and reached the 27258.28 area. Recently, BTC/USD remained bid above the 27074.56 area, a downside price objective related to selling pressure that solidified around the 27875 level.

Although the Bitcoin blockchain's average transaction fees have decreased since surpassing $30 per transfer on May 8, there are still over 257,000 pending transactions awaiting confirmation. Furthermore, from May 1 onwards, the network has successfully verified anywhere from 355,000 to over 682,000 transactions per day. Presently, approximately 188 blocks or 0.