> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cryptoquant.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Miner to Exchange

> The total amount of coins transferred from mining pool to exchange wallets.

## What is Miner to Exchange?

The total amount of coins transferred from the mining pool to exchange wallets.

| Metrics                 | Description                                                                 |
| ----------------------- | --------------------------------------------------------------------------- |
| Flow Total              | The total amount of BTC transferred from a mining pool to exchange wallets. |
| Flow Mean               | The mean amount of BTC transferred from a mining pool to exchange wallets.  |
| Transactions Count Flow | The number of transactions from a mining pool to exchange wallets.          |

The mean value is the Flow Total divided by the Transactions Count Flow. Data entries were collected from the first transaction between two entities.

## How to interpret Miner to Exchange

Identify if mining pool affiliated miners are preparing to sell coins.

Unlike Miner Outflow, it only tracks the movement between Miner and Exchanges.

### By value itself <a href="#interpretation" id="interpretation" />

* **High** : A lot of miners' coins are exposed to selling - **Bearish**
* **Low :** only a few of miners' coins are exposed to selling - **Bullish**

### By examining trend

* **Increasing** **:** Miners' selling power is increasing - **Bearish**
* **Decreasing** : Miners' selling power is decreasing - **Bullish**

## About Miners' Outflow to the exchange

#### Moving to the exchanges for possible selling - Bearish

Moving their coins to the exchanges includes the purposes of selling to cover the cost or to prepare for possible sell. Miner's selling actions include the immediate need to cover the cost or  to gain excess gains by selling at the price they consider to be over-valued. Both cases are correlated to sell action which naturally lead to interpret this reason to the price drop which indicates a bearish sign.

## Related API Endpoints

Query this metric directly from the CryptoQuant Data API:

* **BTC** — [Miner to Exchange](/api-reference/btc-inter-entity-flows/miner-to-exchange)