Miner selling pressure has dropped to a historical low
The selling pressure from Bitcoin miners has currently dropped to its lowest level since May 2024, a phenomenon that is extremely rare in history.
Data indicates that similar low points often signal price consolidation or direct declines. The decrease in selling pressure from miners could be a precursor to a change in market sentiment, suggesting that Bitcoin prices may face adjustments.
Historical patterns of hash rate and price corrections
In April 2025, Bitcoin's hash rate reached an all-time high, remarkably similar to the situation in April 2021. Such peaks are usually accompanied by sharp price corrections.
The hash rate peak on April 14 was a precursor to price corrections in 2021 and 2023. Although no corresponding price increase has occurred yet, the cooling of the hash rate has raised concerns about increasing pressure on miners, which could be a prelude to a decline in Bitcoin prices.
The miners' 'strategic' selling behavior
At the beginning of 2025, miners seemed to adopt a strategic selling approach, cashing out during times of strong prices. The current low selling pressure reflects miner resilience but may also indicate complacency.
If the Bitcoin price stagnates or declines, miners may face immense pressure, prompting a new wave of forced selling, leading to market volatility again.
Risks facing Bitcoin prices
Currently, Bitcoin's trading price is close to $95,000, and momentum indicators show a slowdown in market sentiment. The RSI is approaching the overbought area (68.44), indicating that buying may be nearing its limit.
Although the OBV indicator is still rising, it is gradually leveling off, indicating a weakening buying pressure. This increases the risk of a Bitcoin correction in the short term.
Conclusion: The delicate balance between miner behavior and the market
The low selling pressure from Bitcoin miners and the recent lack of strong momentum in the market suggest that the market may face short-term fluctuations. If bulls cannot regain strong momentum, BTC may enter a consolidation phase or even a slight correction. Investors need to closely monitor miner behavior and market trends to make informed decisions.
