Bitcoin miners are dumping coins on exchanges — brace for a pullback
Bitcoin miners are moving unusually large amounts of BTC onto exchanges — a pattern that historically signals they plan to sell. Meanwhile, demand to buy Bitcoin is weakening and new short positions are piling up.
Idea
Bitcoin miners are the original 'smart money' in crypto — when they rush coins to exchanges, it's usually because they intend to sell and lock in profits. Right now, inflows from miners to Binance have spiked sharply. At the same time, everyday buying demand is fading and traders are already opening fresh short positions. That combination of more supply hitting the market plus less demand to absorb it is a classic recipe for a price drop. The article even flags $70K as the next downside target, meaning there could be significant room to fall from current levels.