Bitcoin Miners Cash Out Nearly $850M Amid Price Surge
Miners have taken advantage of the recent Bitcoin rally, offloading 943 BTC—valued at approximately $850 million—as BTC traded around the $93,000 mark.
According to data shared by Ali (@ali_charts) via CryptoQuant, this move represents a clear instance of miners capitalizing on price strength to lock in profits.
The chart shows a notable drop in miner reserves following April 24, coinciding with a surge in Bitcoin’s price to over $93.7K.
This selloff highlights a typical miner behavior pattern—reducing reserves during bull runs to cover operational costs or capitalize on favorable market conditions.
Despite this, the overall market appears to be absorbing the selling pressure efficiently, with BTC continuing to trade in a strong upward channel.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
