Bitcoin‘s price dropped by approximately 25% after hitting a new high of $42,000 on 8 January. While the aforementioned price drop was contained as U.S markets opened, Bitcoin isn’t out of the woods yet, with many on-chain indicators suggesting that yet another drop might be on the cards.

For instance, the Miners Position Index [MPI] is a metric that spikes when miners are selling their holdings. However, contrary to miner outflows, this metric is a ratio of miner outflows to its 1-year…

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