Bitcoin miners have transferred up to 315% of their daily earnings to exchanges, yet little change has been seen in BTC pricing. Record quantities of bitcoin are being sent to centralised cryptocurrency exchanges by bitcoin miners.

During the 2021 bull run, there have been multiple increases in miner earnings transmitted to exchanges as they grabbed profits. Additionally, as markets reached their cycle bottom in late 2022, there was an infusion of capitulation.

But by a wide extent, this most recent rise exceeded them all. Typically, miners send BTC proceeds to exchanges in anticipation of cashing out to pay expenses and pocket profits. It might be wise to do so now, since BTC recently reached its highest price of the year to far, topping $31,185 on June 24.