🚨 Bitcoin miners are疯狂“抛售”！First quarter surpasses the total for 2025!

Latest data👇

👉 Total miner sales: over 32,000 BTC
👉 Reached a new quarterly high, exceeding the full year of 2025!
👉 Major miners include: MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer

🧠 What signals are behind this?

In short:

👉 Miners are forced to sell Bitcoin due to “funding pressure”

As the hash price drops to $33/PH/s, the breakeven point for miners is about $35/PH/s, many miners face profitability issues and have to “sell coins” to ease funding pressure.

🔥 Why is this matter so critical?

1️⃣ Miner coin sales = market selling pressure: a large influx of BTC into the market may intensify selling pressure, negatively affecting prices in the short term.
2️⃣ Declining miner reserves: since 2023, Bitcoin miner reserves have decreased from over 1.86 million BTC to about 1.80 million BTC, reflecting liquidity stress among miners, which may lead to continued selling.

🎯 Impact on the market:
✅ Bearish:
Short-term pressure: miner sales of Bitcoin increase market selling pressure, possibly causing price volatility or corrections.
Miner profitability issues: low-price coin sales by miners reduce their long-term holding confidence, affecting market health.
✅ Long-term positive:
Miner clearing: if miners’ high selling pressure is released, the market may enter a healthy supply-demand balance.
Price correction may attract capital inflows: after Bitcoin price adjustments, more long-term funds may enter.
🧠 My core judgment:

Large-scale miner selling is a “short-term pressure” in the crypto market, but also part of the “cleansing” process. Once the selling pressure is digested, the market could become healthier.

One sentence summary:

📉 Short-term selling pressure increases
💡 Long-term is a “shakeout” period for the market

🚨 Remember:

Market strength is not only about price,
but also about miners’ “confidence index”.