Sell Pressure Mounts On Bitcoin As Miners Offload More BTC

CryptoQuant data on January 20 shows an unusually sharp spike in Bitcoin miners’ outflow, an unexpected development considering the solid performance of BTC prices in the past few trading days.
Miners’ Position Index (MPI) Rising
The Miners’ Position Index (MPI) is up from -0.85 registered on December 31, 2022, to +3.25 on January 19, 2023. The expansion could indicate that miners are moving their coins, at a faster pace, to centralized exchanges. The MPI is a moving