According to U.Today, Bitcoin miners have experienced a notable decline in the total Bitcoin held in wallets associated with mining activities. On-chain analytics platform Santiment reported a decrease of 85,503 BTC within a 48-hour period, marking the most significant drop since February 2024. This development has raised questions about whether it indicates selling pressure or a strategic shift among miners. While mining balances have been decreasing since the April halving, this recent drop suggests stronger implications, although it is not directly linked to price movements. The movement of over 85,000 BTC is the largest since February, a time when Bitcoin's price was below its previous all-time high of $73,000. Despite the historical significance of miner activity, Santiment suggests that mining wallets have not significantly influenced Bitcoin's price throughout much of 2024. This could imply that other market forces, such as whale activity or institutional investors, are exerting a more substantial impact on the market. Santiment describes the extreme drop as a "net-neutral" signal, indicating that it is neither bearish nor bullish. Market participants are closely monitoring this development for potential correlations with other market activities, including changes in whale behavior and notable price movements. As of the latest update, Bitcoin's price was trading at $99,091.99, reflecting a 4.27% decrease. The cryptocurrency had fallen from its historic $100,000 psychological level earlier in trading, reaching a low of $94,035 before rebounding. Stakeholders remain vigilant for any further developments that could influence Bitcoin's market dynamics.