Bitcoin Stalls Below $110,000 as Miners Step In to Sell
Bitcoin failed to break $110,000, leading miners to sell $172 million worth of BTC, shifting selling pressure from long-term holders.Summary
Bitcoin's price recently stalled below the $110,000 resistance level, causing market concern amid volatility. On-chain data indicates that Long-Term Holders (LTHs) have slowed their selling pace, potentially signaling renewed conviction or exhaustion after months of distribution. However, Bitcoin miners have stepped in to take over the selling role, offloading approximately $172 million in BTC following the price failure to breach $115,000—the largest miner outflow in nearly six weeks. This miner activity suggests mild bearishness and a cautious approach to liquidity management. The immediate direction for BTC remains uncertain, currently hovering near $107,968; maintaining the $108,000 support is crucial, as a drop could lead to a retracement toward $105,585, while easing miner selling could allow a rebound toward $110,000 and potentially $112,500.
(Source：BeInCrypto)