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Crypto miners’ bitcoin reserves slid to the lowest point since May following a spate of withdrawals this week, in a sign of mounting selling pressure as the largest cryptocurrency posts a December gain of more than 13%, data from CryptoQuant shows.

Miner reserves measure the number of coins held by the affiliated miners’ wallets. The number drops as the coins are moved to crypto exchanges, possibly as a prelude to a sale

Miners began balancing their books in late October, with reserves entering a decline that accelerated this month. Reserves now number 1.832 million BTC being held by miners, down from October’s high of 1.845 million.

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