Recent data indicates that Bitcoin miners are reversing a prolonged trend of selling, shifting toward accumulation as BTC has surged by 20% since a hash ribbon 'buy' signal was issued. Over the past month, miners have added approximately 2,700 BTC to their reserves, highlighting a noticeable change in miner behavior. Miner wallet balances increased from 1,794,622 BTC on April 12 to 1,797,330 BTC by May 13. This cessation of selling comes after a period of intensified distribution since late 2023. The latest hash ribbon analysis suggests continued bullish momentum for Bitcoin, as miners appear to be holding rather than selling at lower price levels. Popular trader Mister Crypto commented on the bullish implications of these trends, noting that the hash ribbons are indicating favorable conditions for a further price increase, with predictions of Bitcoin rising significantly throughout May.

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