Bitcoin miner-linked OTC addresses' BTC holdings down 72% since Nov. 2021

BTC holdings at over-the-counter addresses linked to Bitcoin mining companies have fallen about 72% to 139,700 from 500,000 in November 2021. On-chain analyst Axel Adler Jr. said the decline in miner holdings has continued steadily for more than four years, with their Bitcoin inventories gradually being depleted. Miner BTC inventories are typically seen as a source of potential selling pressure. Their declining holdings therefore suggest selling pressure from miners may be weaker than before.