Bitcoin is currently trading at $33831 after a highly volatile and eventful week. Before the weekend, Elon Musk’s tweet led to a massive surge in price, bringing it closer to $40000 level. However, there is consistent resistance and the price dropped to $33000 before it would hit the ATH. There were several metrics hinting at a sell-off before the price rally got a boost and they remain consistent as of now. Miner Bitcoin outflows have hit record highs with transactions from all miners to all exchanges noting a yearly high.
Bitcoin Miners’ Outflow || Source: Twitter
The increase in demand wh