CryptoQuant: Miners sell small amounts of BTC, market indicators show there is still room for further gains

Odaily Planet Daily Report: CryptoQuant analyst said that since the US presidential election, Bitcoin has risen to a new high of over $93,500, and some large miners have taken the opportunity to sell some of their Bitcoin, selling about 2,000 coins last week. According to CryptoQuant data, the Miner Position Index (MPI) has risen from 0.89 before the US presidential election to 3.56, and then fallen back to the current 1.81. Although miners have recently sold Bitcoin, CryptoQuant analysts insist that Bitcoin's valuation indicators show that it has not yet been overvalued. The growing demand indicates that more and more investors are entering the market. Since the election, there has been a net inflow of $3.2 billion of to the exchanges, increasing market liquidity and bringing a positive outlook for Bitcoin's price trend. ()