Bitcoin Miners Have Started Selling: Is a Price Correction Near?

While Bitcoin (BTC) has been struggling to maintain upward movements in recent weeks, increasing market uncertainty and volatility have also prompted miners to take action. According to recent data, miners have started to offload their BTC. This strengthens the possibility of a short-term correction in the market.

Miner Reserves Are Decreasing, Confidence Is Weakening

Recent data shared by CryptoQuant shows a small but significant decrease in BTC miner reserves in the past seven days. Especially based on the 7-day moving average, a decrease of 0.022% was recorded in reserves. This development indicates that miners have started selling to cover operational costs or to reduce their risks before the price drop deepens.

Miner reserves represent the BTC that miners have not yet sold. The decline in these reserves is considered an important signal indicating that selling pressure is increasing and market confidence is weakening.

Miner Position Index Increased by 55%: Selling Pressure Is Rising

While the BTC price fluctuates just above the psychological threshold of 100,000 dollars, another noteworthy metric was the Miner Position Index (MPI). MPI shows the ratio of the amount of coins transferred from miner wallets to exchanges to the annual average. This ratio has increased by 55% in the last three days, indicating that miners have started sending more BTC to exchange addresses.

The significant rise in MPI indicates that selling pressure is increasing and some miners are liquidating their positions with the expectation of a decline.

BTC Is Trying to Hold at a Critical Level

As of the time this article was written, Bitcoin is trading at around $104,990. BTC is trying to hold just above the short-term support point of $103,952, facing pressure from increasing miner sales and market uncertainties.

Losing this support level could cause the price to pull back to $101,520 and then $97,658. Especially if the bulls cannot maintain the $100,000 level, a deeper correction may become inevitable.

Conclusion: The Calm Before the Storm?

Bitcoin’s current outlook shows that major investors and miners are acting cautiously. The decrease in reserves and the sharp rise in MPI clearly indicate that the tendency to sell in the market has increased. For BTC to initiate a strong recovery, not only technical but also macroeconomic confidence must be restored.

The most critical factor that will determine price movements in the coming days will be whether the price can maintain above the $100,000 level.


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