Bitcoin Miners Hold Back Sales: Impact on BTC Market and Price

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by Giorgi Kostiuk

2 years ago

Bitcoin miners are reducing their BTC sales, holding between 1.8 to 1.9M coins, significantly lowering outflows to exchanges since late 2024.

Long-term Holding Strategies

Miners increasingly prefer to hold onto their BTC in anticipation of higher market prices. Many firms opt to sell through OTC markets, while others continue to accumulate coins mined at a lower cost basis.

Miners' Realization Prices and Costs

The realized price for BTC sales by miners exceeds $47,000, compared to $41,000 for other sellers. With realization prices above cost, miners achieve profits over 100%.

Impact on the Market and Other Investors

Miners holding onto BTC can offset sales from ETFs and professional whales. Recent sales by BlackRock and other ETFs indicate shifting sentiments, but the market can swiftly absorb such volumes.

Miners continue to accumulate BTC, maintaining their positions despite recent market pressures. Their long-term strategies, rooted in investment plans and cost considerations, provide stability and support for cryptocurrency pricing.

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