Bitcoin Miners: The Darlings of the Crypto Stage! 🎭💰

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  • Oh darling, Bitcoin miners are selling like hotcakes, with a delightful 100% leap to 50 BTC per day! 🍰
  • But fret not, my dear, the market is sipping tea and absorbing all that selling pressure with grace. ☕

In the past month, Bitcoin has waltzed its way to a new all-time high, leaving us all breathless! After this grand ascent, miners are basking in the glow of profit margins that have soared to a staggering 40% above their annual average. How positively splendid! 💃

Now, rising profitability often leads to a bit of profit-taking, as our astute Cryptoquant analyst Axel Adler has noted. Since our beloved cryptocurrency hit the dizzying heights of $110,000, miners have been busier than a bee in a flower garden, flitting about on exchanges. 🐝

As a result, Bitcoin miners’ inflows have doubled from a modest 25 BTC to a fabulous 50 BTC per day. A 100% increase, darling! This is a clear sign of miners feeling the pressure to sell, but let’s not get too dramatic. 🎭

While miner-to-exchange inflows have indeed risen, they haven’t quite reached the historical heights of yesteryear. In previous cycles, miners have been known to send a peak of around 100 BTC to exchanges. Alas, we are currently sitting about 100% below those glamorous peaks. 📉

So, while our miners are selling, they’re not exactly throwing a grand farewell party. It appears they are selling just enough to keep the lights on while hoarding the rest of their freshly mined BTC. How very strategic! 🎩

This is evidenced by Bitcoin’s miner supply ratio, which has gracefully declined to 0.090. It seems our miners are feeling quite confident about the market’s prospects, perhaps expecting even more gains. How positively optimistic! 🌈

Furthermore, Bitcoin’s Puell Multiple is currently lounging at around 1.4, a figure that typically graces us during a healthy bull market. No major sell pressure from miners yet, and this range usually appears in mid-cycles, not at the tops or bottoms. Until we see a surge to a high of 4, our miners will likely remain calm and collected. 🧘‍♂️

Any impact on BTC?

While our miners are indeed selling, let’s not panic, darling! This selling activity is hardly extreme. In the grand theatre of the market, strategic selling is merely part of the performance. Right now, it seems our miners are not engaging in any dramatic panic selling that could send prices tumbling. 🎭

Importantly, the market is absorbing this selling pressure with the poise of a seasoned performer. Bitcoin’s exchange netflows have remained mostly negative since our darling BTC hit its ATH. Since then, we’ve only seen one day of positive netflows, which was a mere five days ago. This indicates that while selling has indeed picked up, we’re still a long way from peak volumes. The market is handling the extra supply with aplomb! 🎉

In simple terms, even with our miners selling, BTC remains in a healthy phase, yet to reach its historical peaks. If the selling accelerates, that’s when we might see a bit of drama unfold in the price action. 🎬

Therefore, even amidst the current market conditions, BTC could still recover from its recent retrace and reclaim that glorious $111k. However, if miner exchange flow accelerates further while buyers take a step back, we might just witness a little pullback on the charts. How thrilling! 🎢

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2025-05-27 22:34