Bitcoin Miners Hit the Brakes—Here’s Why Your Portfolio Might Thank Them

Mining pools are hoarding BTC at levels not seen since the 2020 halving—a calculated pause or panic move?

The HODL strategy goes institutional

With reserves swelling and hash rates flatlining, miners are playing chicken with the market. Glassnode data shows exchange outflows spiking as rig operators stash coins instead of dumping them—classic bull market behavior.

Supply shock incoming?

When these digital Scrooge McDucks finally tap their wallets, the sell pressure could crater prices. Or—if the Wall Street gamblers keep juicing ETF inflows—this might be the rocket fuel for the next ATH. Either way, someone’s getting rekt while the ASIC farms quietly stack sats.

Funny how ’decentralized’ money still dances to the tune of a few megawatt-hungry oligarchs.

Bitcoin miners’ selling pressure – A breakdown

Bitcoin miners are now exhibiting the lowest selling pressure since May 2024 – A historically rare setup. In fact, data revealed that similar lows have typically preceded periods of sideways consolidation or outright price declines on the charts.

Not immediate rallies.

Source: Alphractal

Positive market reactions after low miner selling pressure were observed in only a few instances – December 2012, September 2013, parts of 2016, and July 2021. In most cases, however, Bitcoin has struggled to sustain any momentum.

Miners are holding, yes. Alas, this has often been a sign of instability below the surface.

Hashrate trends

Bitcoin’s hashrate hit a fresh all-time high in April 2025 – A move eerily reminiscent of April 2021. Both periods saw a peak in mining activity followed by a noticeable drop, creating a pattern that previously foreshadowed major Bitcoin price corrections.

Notably, 14 April has been a critical inflection point in past years, marking local tops in both 2021 and 2023.

Source: Alphractal

While 2025 has not yet seen a corresponding price top, the recent cooling in hashrate raises a red flag – Could this be the early stages of miner stress surfacing again, just as it did before Bitcoin’s sharp downturns?

YTD miner behavior

So far in 2025, miners appear to have sold strategically, taking advantage of the early-year price strength. Their current low selling pressure can be seen as a sign of resilience. On the contrary, it may also hint at complacency.

If Bitcoin’s price stagnates or falls further, the risk of miner capitulation might loom large.

Should stress begin to surface, a new wave of forced selling could emerge. This might tilt Bitcoin’s delicate equilibrium sharply into a phase of renewed volatility.

Bitcoin’s price outlook

Bitcoin, at press time, was hovering NEAR the $95,000-mark. However, its momentum indicators suggested caution.

The RSI seemed to be approaching overbought territory at 68.44, hinting at potential exhaustion among buyers. Meanwhile, the OBV flattened after a steady climb, signaling a slowdown in buying pressure on the charts.

Source: TradingView

While Bitcoin has held on to its recent gains, the lack of strong volume support and rising RSI stress increases the risk of a near-term pullback.

Unless bulls reclaim aggressive momentum soon, BTC could face consolidation or even a minor correction before attempting a clean breakout above $95,500.