A few days ago, a miner sent a whopping 4,400 BTC to Binance. This seems to be the fourth largest transaction from miners to exchanges in the last two months.

At the same time, analysis reveals that Bitcoin might already be close to the bottom region, although there are no clear signs as to when the next bull market might take place.

When looking at lossmkaing, we see that during the bear market, long periods of realization below base cost find resistance to return to profitability. This occurs because network participants seek to exit the market by zeroing their losses.

This type of movement causes most currencies to be sold again at their average price during recovery periods within a bearish central trend (red arrow).