Definition ∞ Miner net position is the difference between the amount of Bitcoin miners receive and the amount they sell. This metric represents the aggregate change in Bitcoin holdings by miners over a specific period, indicating whether miners are accumulating or distributing their earned Bitcoin. A positive net position suggests miners are holding onto their newly minted coins, potentially signaling a bullish outlook. Conversely, a negative net position indicates selling pressure.
Context ∞ Crypto analysts and news outlets frequently cite Miner Net Position as an on-chain indicator to gauge market sentiment and potential price movements for Bitcoin. Shifts in this metric can suggest changes in miners’ long-term confidence or their need to cover operational costs. Monitoring this data point provides insight into a significant supply side factor for Bitcoin’s market dynamics.
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