The statistics indicate that cryptocurrency miners continue to actively accumulate Bitcoins despite a temporary correction in the digital coin's price.
According to information provided by IntoTheBlock, companies involved in BTC mining have been increasing their Bitcoin holdings since November 30th. In the first half of December, they were able to add an additional 10,000 coins to their portfolio, which is valued at $419.6 million at the current exchange rate.
Such behavior from miners has a positive impact on the market as it reduces downward pressure on the price of Bitcoin and instills confidence in traders about the possibility of a new bullish trend. If cryptocurrency mining organizations were actively selling their accumulated coins, it could indicate their expectations of a future asset price decline and a desire to lock in profits.
Additionally, major cryptocurrency players known as "whales" swiftly took advantage of the recent Bitcoin price decline and began actively buying. Since December 11th, they have acquired 13,010 BTC totaling $545.9 million. However, cryptocurrency asset holders with a value of at least $419.6 million, on the contrary, were selling their Bitcoins, which may have had some impact on slowing down the current upward trend.