Fresh data from crypto analytics firm Alphractal reveals that Bitcoin miners are showing their strongest signs of holding behavior in over a year.
According to their proprietary indicator tracking miner activity, current selling pressure has dropped to its lowest level since early 2024 — suggesting that miners are increasingly reluctant to part with their BTC reserves.
The firm calculates this trend by comparing recent 30-day Bitcoin outflows from miner wallets against average reserve levels. A dip in this metric typically points to growing confidence among miners and is often viewed as a bullish indicator for price stability or upward momentum.
However, Alphractal cautioned that this calm may not last. If Bitcoin’s price shifts significantly, selling interest could return, especially if profit-taking incentives emerge.
Despite BTC recently reclaiming territory above $103,000, futures market activity hasn’t kept pace. Open interest in Bitcoin derivatives sits at $61.3 billion — notably lower than past benchmarks, which hovered closer to $68 billion at similar price levels. Analysts attribute this gap to a prolonged wave of liquidations and a more cautious approach among market participants, including reduced leverage from institutional players.
Adding to the uncertainty, whale behavior is starting to shift. Alphractal’s whale trend indicator is tracking a reduction in large long positions, hinting that some deep-pocketed investors may be exiting or preparing for a possible correction. If this downtrend continues, the market could face a phase of sideways movement or even a short-term pullback.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/bitcoin-miner-sell-off-cools-down-what-does-it-mean-for-the-market/