Bitcoin price is facing potential volatility as the correlation between Bitcoin and cryptocurrency mining stocks plummets.
Mining companies continue to grow their stocks while Bitcoin trades steadily around $108k, signaling that the price trend could be volatile depending on whether mining whales hold or sell.
MAIN CONTENT
Cryptocurrency mining stocks outperform Bitcoin price.
Correlation between Bitcoin price and miner market capitalization drops, warning of price volatility.
Mining whales are holding large amounts of Bitcoin, directly affecting the short-term price trend.
How are Bitcoin and mining stocks doing?
New data shows that shares of cryptocurrency mining companies are growing faster than the price of Bitcoin, reflecting the growing interest of institutional investors in crypto-related stocks. This is a positive sign for the Bitcoin ecosystem, but at the same time raises warnings about imbalances in the market.
Specifically, Iris Energy (IREN) stands out with its market capitalization increasing from $1.2 billion to over $4 billion, along with a stock price increase of 72.61% from the beginning of the year to July 7, 2025, according to Google Finance data. Bitdeer Technologies also recorded a 53% increase in shares, with a market capitalization of $1.6 billion.
Cryptocurrency mining stocks rising faster than BTC price shows growing institutional confidence in the mining industry – David Lee, Director of Investment Strategy CryptoQuant, 7/2025.
David Lee, CryptoQuant Chief Investment Strategist, 7/2025
What does the sharp decline in correlation between Bitcoin and mining stocks signal?
The declining correlation between Bitcoin price and the market capitalization of cryptocurrency mining companies is a warning sign of upcoming price volatility. Mining whales hold large volumes of Bitcoin, so their buying and selling activities directly affect supply and demand in the market.
On-chain studies have shown that when this correlation drops sharply, it often leads to strong price movements in Bitcoin, creating opportunities for short-term bull or bear markets. Data from Alphractal shows that this pattern has appeared many times in recent history, making it important for investors to pay special attention.
What is the current Bitcoin holdings of mining whales?
Despite the sharp rise in mining company stocks, Bitcoin mining whales are maintaining a fairly solid Bitcoin holding position with a total reserve of up to 1.8 million BTC – equivalent to about $195.5 billion.
CryptoQuant data shows that the amount of Bitcoin that mining whales transferred to the market (Miner Outflow) dropped to a one-month low of only about 1,000 BTC, which indicates a low amount of Bitcoin being sold on the exchange, contributing to reducing selling pressure and supporting Bitcoin prices to stabilize or increase slightly.
As the amount of Bitcoin being transferred out from mining whales declines, the selling pressure in the market usually decreases, creating favorable conditions for subsequent price increases – CryptoQuant report, June 2025.
CryptoQuant, June 2025 Report
Predicting Bitcoin Price Movements Based on Mining Whales' Behavior?
If the mining whales continue to hold Bitcoin without selling, the price of Bitcoin could recover to the $110k area due to the reduction of supply pressure in the market. On the contrary, if this group switches to a large-scale selling state, the price of Bitcoin could fall sharply to the support area near $106k.
Investors and traders should closely monitor the on-chain actions of mining whales, as this is a key factor that can predict the next major movements in the Bitcoin market.
Outstanding Mining Stocks and 2025 Performance
Company Stock Price (7/7/2025) Growth (%) YTD Market Cap (bn USD) Iris Energy (IREN) $16.95 72.61% 4.0 Bitdeer Technologies $13.30 53% 1.6 Mara Holdings Unstable +9.92% (last 5 days) Not disclosed
Frequently Asked Questions
Mining stocks rise, but how does Bitcoin react? Bitcoin is currently stable around $108,000, while mining stocks are rising sharply, reflecting expectations for long-term growth from institutional investors. What does the decline in correlation between Bitcoin and mining companies mean? This is a warning signal of upcoming major price fluctuations due to mining whales holding large liquidity in the market. What does low Miner Outflow mean for the market? Reducing the amount of Bitcoin sold by miners helps reduce selling pressure, supporting stable or increasing price fluctuations. How much BTC do mining whales currently hold? Currently, mining whales hold 1.8 million BTC, equivalent to about $195.5 billion, which has a decisive impact on supply and demand. How will Bitcoin price fluctuate if miners sell Bitcoin? If miners sell heavily, the buying strategy may be broken, the price will adjust to the support level around $106,000.
Source: https://tintucbitcoin.com/bitcoin-miners-tich-tru-gia-btc-giang-co/
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