OPEN-SOURCE SCRIPT
Bitcoin Miner Sell Pressure
Bitcoin miners are in pain and now (November 2022) selling more than they have in almost 5 years!
Introducing: Bitcoin Miner Sell Pressure.
A free, open-source indicator which tracks on-chain data to highlight when Bitcoin miners are selling more of their reserves than usual.
The indicator tracks the ratio of on-chain miner Bitcoin outflows to miner Bitcoin reserves.
- Higher = more selling than usual
- Lower = less selling than usual
- Red = extraordinary sell pressure
Today [November 2022], it's red.
What can we see now [November 2022]?
Miners are not great at treasury management. They tend to sell most when they are losing money (like today). But there have been times when they sold well into high profit, such as into the 2017 $20K top and in early 2021 when Bitcoin breached $40K.
Bitcoin Miner Sell Pressure identifies industry stress, excess and miner capitulation.
Unsurprisingly, there is a high correlation with Bitcoin Production Cost; giving strong confluence to both.
In some instances, BMSP spots capitulation before Hash Ribbons. Such as today!
Introducing: Bitcoin Miner Sell Pressure.
A free, open-source indicator which tracks on-chain data to highlight when Bitcoin miners are selling more of their reserves than usual.
The indicator tracks the ratio of on-chain miner Bitcoin outflows to miner Bitcoin reserves.
- Higher = more selling than usual
- Lower = less selling than usual
- Red = extraordinary sell pressure
Today [November 2022], it's red.
What can we see now [November 2022]?
Miners are not great at treasury management. They tend to sell most when they are losing money (like today). But there have been times when they sold well into high profit, such as into the 2017 $20K top and in early 2021 when Bitcoin breached $40K.
Bitcoin Miner Sell Pressure identifies industry stress, excess and miner capitulation.
Unsurprisingly, there is a high correlation with Bitcoin Production Cost; giving strong confluence to both.
In some instances, BMSP spots capitulation before Hash Ribbons. Such as today!
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Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.