Bitcoin MPI Spikes Up Suggesting Miners May Be Dumping |


On-chain data shows the Bitcoin MPI has spiked up recently, suggesting that miners may have started to dump the crypto.

Bitcoin Miners’ Position Index (MPI) Has Sharply Risen Recently

As pointed out by an analyst in a CryptoQuant post, some data suggests BTC miners may have began to dump the coin following recent rally.

How To Get Free Crypto  
5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The “Miners’ Position Index” (or the MPI in brief) is an indicator that measures the ratio of the Bitcoin miner outflows and the 365-day moving average of the same.

The “miner outflows” is a metric that tells us the total amount of coins that miners are transferring out of their wallets right now.

When the value of the MPI is high, it means miners are sending out more coins than usual. This trend can be bearish for the price of Bitcoin as it may be a sign of dumping.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

On the other hand, the indicator’s value being low can be bullish for the coin’s price as it may imply that miners are selling lesser than usual at the moment.

Coinbase Banner  

Related Reading | Bitcoin Developers Score Victory Against Craig Wright, Court Dismisses Legal Case

Now, here is a chart that shows the trend in the BTC MPI over the past year:

The indicator's value seems to have spiked up recently | Source: CryptoQuant

As you can see in the above graph, the Bitcoin MPI has shot up in value in recent weeks. This could mean that miners have ramped up selling recently.

The quant has also included other indicators in the chart, the first of which is the miner to exchange flow, which tells us how much of the miner outflows are going to centralized exchanges.

Related Reading | $450 Million In Crypto Futures Liquidates As Market Surges

Since this metric hasn’t spiked up, it could mean that miners are selling through OTC deals right now. Another indicator on the chart is the miner inflow, which measures the amount of coins moving into miner wallets.

Interestingly, this metric had a larger spike than the outflows, which implies that any selling some miners may have done should be more than made up for through the buying by other miners.

FreeBitcoin Banner  

The whole picture would suggest that the current trend should have a rather neutral impact on the price of Bitcoin.

BTC Price

At the time of writing, Bitcoin’s price floats around $47.9k, up 12% in the last seven days. Over the past thirty days, the crypto has gained 27% in value.

The below chart shows the trend in the price of the coin over the last five days.

Looks like the price of Bitcoin has surged up over the past couple of days | Source: BTCUSD on TradingView
Featured image from, charts from,

Go to Source
Author: Hououin Kyouma

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.