Bitcoin Miners Hold Tight: Are They Secretly Hoarding Gold? 🤑

Bitcoin miners are clutching their mined BTC like it’s the last slice of pizza at a party.
BTC has taken a nosedive of 7.58% over the past day, hitting a 4-month low. Ouch!

So, Bitcoin [BTC] just hit a 4-month low of $79060, trading at $79526. That’s a 7.58% drop, folks! Talk about a rollercoaster ride without the fun part.

Even with sellers throwing a tantrum, Bitcoin miners are like, “Nah, we’re good!” They’re holding on tighter than a toddler to their favorite toy.

Bitcoin miners are not selling

According to CryptoQuant, miners are not selling. They’re holding onto their mined Bitcoin like it’s a family heirloom. Seriously, what’s the deal?

Since December 2024, miners have been ramping up their Bitcoin hoarding. Their reserves are as stable as my New Year’s resolutions—nonexistent!

When BTC prices were soaring, miners were cashing in like it was Black Friday. But now? They’re just sitting on their stash like it’s a secret treasure map.

And get this: the Miner Position Index (MPI) has plummeted from 2.2 to a cozy little negative zone around -0.027. Sounds like a party no one wants to attend!

When MPI dips into the negatives, it’s a sign that miners are not aggressively selling. They’re holding onto their assets like they’re the last pair of jeans in a clearance sale.

This miner behavior is as clear as my morning coffee: the Miner-to-Exchange Flow has dropped from 21k to a mere 3.3k BTC over the last four days. Talk about a ghost town!

This drop happened while BTC was losing its cool. Miners are avoiding selling like it’s a bad date—strategically offloading for operational needs, of course.

And the Puell multiple? It’s hanging out above 0.5 but below 2, currently at 1.1. Miners are acting like they see a healthy market, but we all know it’s just a façade.

So, selling activity from the mining pool is as moderate as my enthusiasm for Monday mornings.

When miners act like this, it’s a sign they think prices are as low as they can go. They’d rather hold than sell at a loss. Smart move, or just plain stubborn?

What it means for BTC

Just because miners aren’t selling doesn’t mean they’re throwing a party. It suggests Bitcoin prices have dropped to levels that make selling feel like a bad idea.

But hey, low selling pressure from miners is like a breath of fresh air for BTC. Less selling means less pressure on prices, which could allow for a little recovery. Fingers crossed! 🤞

However, since Bitcoin is still on a downward spiral, brace yourselves for more losses before miners’ behavior starts to work its magic. BTC could dip to $76,800. For a comeback, it needs to reclaim $86,000. No pressure, right?

2025-02-28 17:16

Bitcoin miners are not selling

What it means for BTC

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