- Bitcoin miners continued to hold their mined BTC.
- BTC has fallen by 7.58% in the past day to hit at the time of a low point of 4 months.
Bitcoin [BTC] Experience with a sharp decline with a low 4 -month low, and traded at $ 79526, at the time of the press. This meant a decrease of 7.58% in daily graphs.
Despite the strong downward pressure, with most sellers strongly active, Bitcoin mini workers remain indifferent to the prevailing trend.
Bitcoin -My workers do not sell
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Source: Cryptuquant
According to CryptoquantMiners do not sell and continue to stick to their mined possession.
As such, since December 2024, all Bitcoin mini workers have started accelerating their mined Bitcoins. The reserve of the miner has not changed nominally from December 2024.
In addition, miner is not significantly influenced, because it looks like miners are gathering their bitcoin. When the BTC prices enriched, miners turned to the sale to maximize profit and support operational costs.
However, since December Bitcoin the withdrawal of Athmmijnbouw has largely decreased.
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Source: Cryptuquant
This mining behavior is further proven by the fact that the Miner Position Index (MPI) has decreased from 2.2 to touch the negative zone around -0.027.
When MPI drops negatively, this suggests that miners do not sell aggressively and that their outsource are lower than historical averages.
So miners keep their assets instead of selling them despite the prevailing market conditions.
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Source: Cryptuquant
This mining behavior is clear due to the falling mine-to-exchange current (total). For the past four days it has fallen consistently from 21k to 3.3k BTC.
This decline has taken place for days that BTC has experienced the most losses. This suggests that as prices continue to fall, miners avoid sales and strategically discharge for operational needs.
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Source: Cryptuquant
This strategic offloading is clearly due to the Puell -Multiple, which remains above 0.5, but lower than 2. It has fallen to 1.1, suggesting that miners see a healthy market without extreme mining behavior.
The sale of activity from the mine pool therefore remains moderate.
When miners behave like this, this suggests that they feel that the price has fallen to untenable level to sell. Considering holding as a better option.
What it means for BTC
Although miners do not sell, this does not mean that they are bullish. The current behavior suggests that Bitcoin prices have fallen to non -durable levels to sell. So miners keep bitcoin out of necessity.
Low sales pressure of miners benefits BTC. Reduced sale will reduce the pressure on prices, so that room for recovery can.
Because Bitcoin is still in a downward trend, more losses can occur before the behavior of miners positively influences prices. BTC can fall to $ 76,800. For a recovery, BTC must first reclaim $ 86,000.