The Miners’ Position Index (MPI) has recently surged above 2.7. This index reflects the volume of Bitcoin miners are withdrawing compared to their 1-year average. A high MPI indicates that miners are transferring more coins to exchanges than usual, potentially adding some short-term selling pressure to the market.
While this spike in MPI suggests the possibility of short-term correction or sideways price action, it remains far below the extreme levels typically observed at the end of previous bull cycles. This movement appears to align with the recurring intra-cycle pattern of “correction followed by further upside,” which Bitcoin has demonstrated in recent months.
It is also worth monitoring whether this miner behavior will prove to be a one-off event or develop into a more sustained wave of selling pressure. Should continuous miner outflows persist, further short-term corrections could occur.
Nevertheless, the mid-to-long-term bullish outlook for Bitcoin remains intact. Long-term investors should stay focused on their strategies without being swayed by temporary market fluctuations. With supportive macroeconomic trends and strong underlying fundamentals, Bitcoin’s price is likely to continue its upward trajectory over time.
Written by Avocado_onchain
