Despite the Bitcoin halving, miners remain unwilling to offload their BTC holdings – discover the reasons behind this decision.
Rewritten Article:
Hey there, Big Crypto fans!
Bitcoin miners, our digital gold diggers, are on a strange twist post-halving. Despite the cut in block rewards, they're not diving headfirst into sell-offs as expected.
First off, let's chat about the miners' usual Mo. They need to shell out on electricity, hardware, and the like. Historically, they'd sell their BTC at market highs to keep up with costs.
But stare in wonder! This time around, they're not exactly rushin' to sell. Looks like they're expecting bigger, better prices before considering a cash-out.
The reason behind miners' usual sell-offs and their hesitation now
Digging for Bitcoin ain't cheap, and the miners gotta pay the bills. They've typically offloaded their BTC when prices peak. This pattern stands out as different this time.
Miners are hoarding their coins, hinting at a strategic shift. It seems they're waiting for prices that'd have them grinning from ear to ear before selling.
Bitcoin miner reserve data: steady as she goes
The data paints a clear picture: a stubbornly consistent trend. From 1,808,315 BTC on the 25th of December 2024, to 1,808,674 BTC on the 3rd of May 2025, reserves show less than a 0.02% change.
This tells us miners aren't spewing their BTC into the market, despite incentives to do so.
In the past, such stability has foreshadowed big price moves, suggesting miners ain't in a rush to exit. Instead, they may be readying themselves for the next bullish leg.
Puell Multiple: a not-so-exciting qualifier
The Puell Multiple is a nifty indicator that compares daily mining revenue in USD to the 365-day average. Readings over 2 usually signal market tops and massive miner selling. But today, we're chillin' in the mid-range, another sign they're content to wait.
Historically, when the Puell Multiple is calm and reserves are steady, there's room for the market to grow before hitting a peak.
So, there you have it. Miners are acting more like long-term believers than forced sellers at the moment. And as long as they hold on, the Bitcoin bulls have a reason to roar.*
Wondering what the impact of LINK halving might have? Find out more here.
1. Despite the expectations, Bitcoin miners, our digital gold diggers, are not selling their mined Bitcoin en masse post-halving, which is unusual.2. Miners are holding onto their Bitcoin coins, indicating a strategic shift, suggesting they are waiting for prices that would make them incredibly happy before selling.3. The on-chain data reveals that the Bitcoin miner reserve has remained remarkably consistent, indicating minimal selling.4. The Puell Multiple, a valuable indicator, shows that the daily mining revenue is currently in the mid-range, another sign that miners are content to wait.5. Historically, when the Puell Multiple is calm and the Bitcoin miner reserve is steady, there is potential for the market to grow before hitting its peak.6. Bitcoin miners are acting more like long-term believers than forced sellers at this moment, and as long as they hold onto their Bitcoin, the Bitcoin bulls have a reason to roar.*
As for Chainlink and its upcoming halving, you can find more information here.
