Key points:
Bitcoin miners have stopped selling their BTC in what may signal the end of a lengthy distribution streak.
Over the past month, miner wallet balances have increased by around 2,700 BTC.
Hash Ribbons data shows good times continuing for both miners and BTC price strength.
Bitcoin (BTC) accumulation by miners is back as network participants swap selling for hodling at $75,000 lows.
Data from onchain analytics firm Glassnode shows that miners are now actively adding to their BTC reserves.
Bitcoin miners buck months of selling
Bitcoin hitting multimonth lows in April sparked a sea change in miner behavior, with a lengthy selling streak reversing into significant accumulation.
Glassnode shows that shortly after BTC/USD bottomed just below $75,000, the balance in miner wallets itself found a floor, only to then start increasing along with price.
Miner wallets held 1,794,622 BTC on April 12,