Miners Ramp Up Selling Pressure as Macroeconomic Fears Intensify

Bitcoin miners hit the sell button—hard. Macroeconomic storm clouds gather, triggering accelerated divestment across mining operations.

The Exodus Accelerates

Miners don't just hodl through turbulence. When macro headwinds blow, they liquidate. Operational costs demand it. Margin calls enforce it. This isn't FUD—it's balance sheet management 101.

Market Mechanics Exposed

Every sell order from a major miner injects immediate downward pressure. It's a brutal reminder: crypto isn't decoupled from traditional finance. It just reacts faster and with more volatility. Thanks, Fed.

A Cynical Take

Wall Street analysts wring their hands over 'digital gold' while miners dump holdings to pay real-world electricity bills. Some hedge against inflation—others just need to keep the lights on. Literally.

Sharp Contrast: From Accumulation to Selling

This period directly follows the release of a series of US inflation reports, including the CPI and PPI, which dampened market expectations for Federal Reserve rate cuts. bitcoin experienced a sharp drop, falling to as low as $108,600 at one point. Altcoin prices saw even greater declines.

Specifically, approximately 4,207 BTC, worth about $485 million, were moved from miner wallets for sale during this time.

This marks a significant reversal from their behavior between April and July, when they accumulated 6,675 BTC in line with a stable, upward trend in the US stock market.

Typically, the amount of Bitcoin miners sold is insufficient to reverse market trends single-handedly. However, their large-scale selling can influence the market during critical turning points. Miner reserves total 63,736 BTC, valued at over $7.1 billion.

Will PCE Data Trigger Further Sales?

Glassnode data shows no significant additional selling from miners since August 25. However, if adverse macroeconomic factors emerge, there is a strong possibility of resumed selling.

The US PCE inflation data is scheduled for release this Friday. The market consensus forecasts a 2.9% year-over-year increase for Core PCE and a 2.6% rise for Headline PCE.

If these figures exceed expectations, miners could resume liquidating their holdings. As of reporting time, 10:00 am UTC, Bitcoin is trading around $109,800, down more than 2.8% from the previous day.