📍The strongest miner sell-off since April: 16,000 BTC from miners has been dumped in one day

📌As soon as BTC surpassed $123K, selling pressure began to increase from miners: Over 16,000 BTC were pushed onto exchanges in one day - marking the largest dump since April 7. Miners' BTC reserves dropped to 65,000 BTC, the lowest in a month, indicating they timed this moment.

📌Whales also took the opportunity to sell: The amount of BTC transferred to exchanges in one day reached 81,000 BTC, with large addresses accounting for 58,000 BTC. Estimated total profits realized in one day reached $3.5B:

- Long-term holders (LTH): ~56%, nearly $2B.

- Short-term holders (STH): ~44%, about $1.5B.

📌The price adjusted to around $118K, and the market did not respond negatively - this is a handover phase, when BTC is transferred from "hopeless" investors to "hopeful" investors.

💭 Right after miners and whales took profits, CEX supply is running low, OTC liquidity is decreasing, and funding is leaning towards short. In the upcoming phase, all attention on BTC may shift to ETH.