Metrics data indicates selling pressure from BTC miners is easing.

The market continues to decline, but miner data demonstrates strategic, rather than panicked, behavior. Analysts noted that the Bitcoin (BTC) price has fallen 21% from its October 10 peak of $119,771 to current levels near $94,283, and against this backdrop, a significant reversal has occurred in the structure of miner flows. Despite the deteriorating price dynamics, recent indicators indicate that the most active selling phase has already ended.

During the Bitcoin price rally from October 10th to 27th, they maintained an average 30-day net position of +843 BTC, reflecting rational accumulation during the bull market. When the price fell below $110,000 in early November, this position flipped to negative – -831 BTC from November 7th to 17th. The 1,674-coin move was a tactical response to deteriorating market conditions.

At the same time, daily data confirms the absence of a violent liquidation. Over the past 30 days, miners sold only 11 days, while they continued accumulating on 19. Volumes also remained balanced: 6,048 coins sold versus 6,467 accumulated. The maximum sale was recorded on November 6, when 1,898 BTC were distributed at a price of $102,637, allowing miners to make a profit.

According to experts, the movement over the past seven days has been particularly significant: during this period, miners bought 777 BTC, despite the Bitcoin price remaining 12.6% lower than a month ago. As of November 17, their 30-day position has returned to positive territory, reaching +419 BTC. This indicates the end of forced selling and a return to the coin accumulation trend, which historically coincides with phases of market stabilization. While the market remains under pressure, current data suggests that miners are no longer the key source of supply.

Source: cryptonews.net