Key Points
- Bitcoin miner reserves have been decreasing since mid-2024, indicating an increase in selling pressure.
- Despite Bitcoin’s price rally, reserves remain low, suggesting that miners are continuing to sell rather than accumulate.
Bitcoin’s miner reserves have been on a steady decline since mid-2024. This trend suggests an increase in selling pressure even as the price of Bitcoin continues to rise.
Data from CryptoQuant indicates that miners have been selling off their Bitcoin holdings. This has raised questions about the potential impact of this trend on Bitcoin’s price.
Miners Selling More Bitcoin
The downward trend in Bitcoin miner reserves suggests that many miners are selling more Bitcoin instead of holding onto it. This could be due to profit-taking or operational expenses.
Despite the price rally of Bitcoin in late 2024 and early 2025, the reserves have remained low. This indicates that miners are continuing to sell rather than accumulate Bitcoin.
Recently, the reserves have been moving sideways, suggesting that some miners might be waiting for more favorable price conditions.
Decline in Miner Outflows
Data from IntoTheBlock shows a significant decline in miner outflows over the past few months. Over the last week, miner outflows fell by 42.83%, and over the past 90 days, they fell by 68.55%.
This reduction in selling pressure indicates that miners are holding onto their Bitcoin, expecting higher prices. However, lower outflows could also mean that fewer new Bitcoins are entering the market due to reduced block rewards.
At the time of writing, Bitcoin’s 30-Day Average Hash Rate stood at 799.74 million TH/s. The rising Hash Rate reflects strong mining participation and network security.
Despite recent declines, the overall trend remains upward, reflecting continued network strength.
As Bitcoin trades at $83,163.55, with a 24-hour volume of $23.21 billion, investors are closely monitoring whether miners will continue selling or holding their Bitcoin. If reserves start increasing, it could indicate confidence in future price growth. However, if selling resumes, Bitcoin may face renewed downward pressure.
