Selling pressure from BTC miners is easing, as analysts note strategic behavior

The cryptocurrency market continues to decline, but data from Bitcoin (BTC) miners suggests strategic rather than panicked behavior. Analysts note that the Bitcoin price has fallen 21% from its peak of $119,771 on October 10 to current levels near $94,283. Against this backdrop, a noticeable reversal has occurred in the structure of miner flows, which may signal the end of the most active selling phase.

Selling and Accumulation Dynamics

During the Bitcoin price rally from October 10 to 27, miners maintained an average 30-day net position of +843 BTC. This indicated rational accumulation during the bull market. However, when the price fell below $110,000 in early November, this position turned negative—-831 BTC from November 7 to 17. The 1,674-coin move was a tactical response to deteriorating market conditions.

No Liquidation

Daily data confirms that there is no fierce liquidation in the market. Over the past 30 days, miners sold their holdings only 11 times, while they continued to accumulate on 19 occasions. Selling and accumulation volumes remained balanced: 6,048 coins were sold versus 6,467 accumulated. The maximum sale was recorded on November 6th, when 1,898 BTC were distributed at a price of $102,637, allowing miners to profit.

Positive Signals

According to experts, the movement over the past seven days has been particularly significant. During this period, miners bought 777 BTC, despite the Bitcoin price remaining 12.6% lower than a month ago. As of November 17, their 30-day position has returned to positive territory, reaching +419 BTC. This indicates the end of forced selling and a resumption of coin accumulation, which has historically coincided with phases of market stabilization.

In Conclusion

While the cryptocurrency market remains under pressure, current data shows that miners are no longer the key source of supply. Their strategic behavior and the resumption of accumulation could be an important signal for the future of the Bitcoin market. It is important to monitor further developments to understand how this will impact overall price dynamics and investor sentiment.