🚨Are Bitcoin Miners Booking Profits?

🚀 As Bitcoin hit $123K, a sharp spike in the Miners’ Position Index (MPI) triggered fresh concerns of a potential miner-led selloff.

📉 BTC has already slipped below $120K, prompting fears of increasing selling pressure.

🔍 But here’s where it gets interesting:

A deep dive into on-chain data reveals a more nuanced miner behavior — not all signals point to doom.

🌐 Some analysts suggest this activity could even indicate a local bottom, as miners strategically rotate profits without triggering panic.

⚠️ Is this simply profit-taking at local highs?

Or a sign of early-stage distribution ahead of macro events like CPI & PPI data releases?

#Bitcoin #CryptoMarkets #DigitalAssets #Blockchain #CryptoInsights

https://coingape.com/are-bitcoin-miners-booking-profits-as-btc-price-hits-123k-is-a-sell-off-ahead/?utm_source=bnb&utm_medium=coingape