Bitcoin Bearish Signal: Miners Continue Transfers To Exchanges

On-chain data shows miners have sent a large amount of Bitcoin to spot exchanges recently, something that can be bearish for the value of the crypto.
Bitcoin Miners To Spot Exchanges Flow Has Surged Up Over The Past Day
As pointed out by an analyst in a CryptoQuant post, the latest spike in the miner exchange deposits is larger than any other recent peaks.
The relevant indicator here is the “miners to spot exchanges flow mean,” which measures the total amount of Bitcoin being transfe