Miners sold 943 BTC as Bitcoin touched $94.5K after rising from $84K earlier in April
The total value of the sell was about $850 million based on the market price
Reserves dropped quickly near the peak which may slow down price gains for now
Bitcoin miners sold 943 BTC—valued near $850 million—after the asset surged to $94,570 on April 28, 2025. The miner reserve dropped as prices peaked, suggesting strategic selling during high market value. This movement raised questions on whether miners are cooling the rally or simply realizing gains during favorable conditions.
https://twitter.com/ali_charts/status/1917145337128779989 Miners Reduce Holdings Amid Price Peak
From April 15 to April 28, miner reserves showed a clear downward trend. On April 16, miner holdings stood at 1.808M BTC with Bitcoin trading at $84,025. By April 28, reserves had fallen to 1.808M BTC as Bitcoin touched $94,570.
The reduction aligns with a surge in Bitcoin’s price over that same period. This timing suggests calculated moves from miners to lock in profits while market demand remained strong. Selling activity coincided with Bitcoin reaching its local high, prompting attention from analysts tracking miner behavior.
Data indicates the 943 BTC offloaded came when the price hovered near $93.7K. This decision potentially added selling pressure in the market, temporarily pausing upward momentum. Observers note that miner reserves dropped steeply from April 25 onward as price action approached peak levels.
$850 Million Sale Raises Market Implications
The 943 BTC sold represents a substantial volume, contributing to over $850 million in transaction value based on current market pricing. While miner sales are not uncommon, such coordinated action during a rally invites speculation on market timing.
Historically, miner reserve drops often signal upcoming price corrections or pauses in rally strength. With Bitcoin recently posting double-digit percentage gains, traders are watching to see whether this marks a cooling-off phase. Price previously hovered near $84K mid-month, meaning the move to $94.5K offered a $10K profit window.
The decision to capitalize on gains suggests miners may anticipate near-term volatility or consolidation. By selling into strength, they improve cash flow without waiting for unpredictable moves. Market participants now weigh whether this selling pressure will suppress further gains or reset price support zones.
Will Selling Pressure Hold Back Bitcoin's Momentum?
The key question now remains: will this miner sell-off curb Bitcoin’s momentum or simply be a minor pause in a larger trend?
Price levels near $94K have acted as a local cap, with short-term resistance forming near this zone. Without new buyer volume, further upside could be limited unless reserves begin to rise again. Observers are also watching for miner re-accumulation as a bullish signal.
Meanwhile, Bitcoin’s price has slightly eased from its peak. At $93.7K, it remains elevated, but market reaction to miner activity could dictate its next move. A continued drop in reserves may push caution among traders already wary of stretched price action.
Miners often act as a smart money indicator in crypto markets. Their ability to sell at tops and accumulate at lows gives insight into broader sentiment. As of April 28, the data points to strategic execution, with the sell-off marking a notable moment in Bitcoin’s April rally.
