MPI bezpośrednio wpływa na cenę bitcoinów na rynku
CryptoQuant analysts believe that miners may be behind the decline in the price of Bitcoin. This can be seen in the MPI graph. This is the activity index of miners, which is currently extremely high
It is likely that Bitcoin is fluctuating so much, could not step over the $42,000 bar and fell below $30,000 precisely because of the changed MPI level.
This indicator links mining and the price of Bitcoin. The higher it is, the more Bitcoins are poured into the exchange by miners. Thus, miners can be viewed as a factor that directly affects the price of BTC.
Today, MPI is above the level recorded during the 2017 bull market. According to miners, the price of a cryptocurrency in the range of 33-42 thousand dollars per Bitcoin is profitable and increases the selling pressure.
Miners are actively dumping cryptocurrencies to justify the costs. In view of the fact that the MPI indicator has reached an all-time high, it seems that they are indirectly to blame for the collapse in the price of Bitcoin.