Some days ago, a miner sent 4,400 BTC to Binance through POOLIN, a popular BTC mining organization, totaling the fourth largest transaction from miners to exchanges in the last two months.
Other transactions of similar magnitude include May 12th (2,600 BTC), June 16th (4,700 BTC), and June 22nd (5,700 BTC).
At the same time, analysis shows that Bitcoin might be close to its lows, although there are no clear signs of when the next bull market might occur.
That during the bear market, long periods of realization below base cost find resistance to return to profitability. This occurs since network participants seek to exit the market by zeroing their losses.
This type of movement causes most currencies to be sold again at their average price during recovery periods within a bearish central trend.