Bitcoin demonstrated stability near its all-time high towards the end of last week and entered the new week with positive momentum and increasing buying interest. Currently trading around $110,000, Bitcoin maintains a robust technical framework, with experts anticipating further price appreciation in the near term. Market volatility has subsided, and overall market strength has improved, enabling Bitcoin to attempt to reach new price milestones once again.
A noteworthy development, however, is the increased selling activity from Bitcoin miners. According to prominent analyst Axel Adler, following Bitcoin’s historic peak, the daily volume of Bitcoin sold by miners on exchanges has approximately doubled, rising from 25 to 50 BTC. This trend suggests miners are capitalizing on profits. Despite this uptick, miner sales remain below their historical average, which previously hovered around 100 BTC daily.
The market has absorbed this additional selling pressure with considerable resilience, showing no signs of weakness. This indicates strong demand that continues to support the upward trend despite miners offloading more coins. Bitcoin’s price remains steady between $108,000 and $112,000, with key support levels holding above $103,600, which helps limit downside risk.
Amid ongoing global trade tensions and economic uncertainty, Bitcoin is increasingly viewed as a safe-haven asset with rapid growth potential. Should the price surpass the $112,000 threshold, Bitcoin could swiftly advance toward new all-time highs, signaling a positive outlook for investors. Overall, Bitcoin’s solid market foundations and sustained demand position it well for further price gains in the foreseeable future.
For a more detailed analysis, please visit: https://bitcoinist.com/bitcoin-miners-increase-selling-pressure-post-ath-market-absorption-stays-strong/
