CryptoQuant has recently found out that miner reserves have increased back up to 1.841 million BTC on July 30, a noticeable difference from the 1.826 million BTC found at the end of May, when most miners had been selling the cryptocurrency, in turn having a negative effect on its price.
With the current lack of support, particularly from medium and large investors, BTC is still trading below $30,000. Whale wallets are also primarily holding their funds in stablecoins such as Tether (USDT) and USD Coin (USDC).
A decrease in the pressure of BTC from miners could serve as a potential positive sign and may help trigger rebounding prices.
In turn, this could potentially bring large investors back to move away from stablecoins and to BTC, potentially helping its value reach back up to $30,000.
