Gate News message, April 28 — Bitcoin miner deposits have dropped significantly to approximately 8,138 transactions, marking one of the lowest levels on record, according to analysis from CryptoQuant analyst Arab Chain. The metric indicates reduced frequency of miner transfers to exchanges, suggesting diminished selling pressure and a more conservative approach from miners.
In late 2025, the same metric exceeded 100,000 transactions, reflecting a period of heavy miner inflows that typically correlates with selling intentions or profit-taking. Since early 2026, the indicator has been in a consistent downtrend with no prominent peaks re-emerging, a stark contrast to prior patterns.
The decline in deposit transactions not only reflects fewer bitcoins being moved to exchanges but also suggests lower transfer frequency overall, pointing to a shift in miner behavior toward greater caution. This reduced selling pressure may provide additional support to the market.
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