Bitcoin Miner Selloff Intensifies Downward Price Pressure
Recent on-chain data indicates that Bitcoin miners have significantly increased their selling activity, contributing to further downward pressure on BTC’s price. As of April 2025, the miner reserve has dropped to 1.80 million BTC, marking a 1% decline from the previous week. This trend suggests potential continued volatility in Bitcoin’s near-term price action.
Bitcoin Faces More Downside as Miners Join the BTC Selloff
On-chain data reveals that miners on the Bitcoin network have ramped up their coin-selling activity, a trend that could exacerbate the downward pressure on the coin’s price. According to CryptoQuant’s data, the BTC miner reserve has steadily decreased this week. As of recent data, it stands at 1.80 million BTC, down 1% from the previous week. The BTC’s miner reserve tracks the number of coins held in miners’ wallets and represents the coin reserves miners have yet to sell. When the metric climbs, miners are holding onto more of their mined coins, often signaling confidence in future price increases. Conversely, when the reserve declines, miners are moving coins out of their wallets, usually to sell.
Cardano Founder Predicts Bitcoin to Rally 200% to $250,000
Cardano (ADA) founder and Ethereum co-founder Charles Hoskinson recently spoke to CNBC about the ongoing global trade war, highlighting how cryptocurrencies will benefit in the long term. He predicted that Bitcoin (BTC) will surpass $250,000 by the end of this year or next year, representing a rally of over 200%. BTC fell to below $75,000 on Apr. 7 but has since recovered to the $81,000 price point. However, BTC’s price is down slightly in the daily and weekly charts.
Bitcoin Gains Amid Tariff Pause
BTC fell to below $75,000 on Monday, Apr. 7, coinciding with one of the most significant crashes in the stock market on the same day. Since then, BTC has recovered to the $81,000 price point. Despite some gains, BTC is trading in the red zone today, down 0.2% in the daily charts and 3% in the weekly charts.
Bitcoin Faces Crucial Technical Test in Prolonged Downtrend
BTC nears $90K resistance as bearish momentum shows signs of weakening. Bullish RSI divergence and falling wedge hint at potential breakout. Persistent exchange outflows suggest long-term holder confidence remains strong. On April 10, 2025, BTC experienced notable intraday volatility, surpassing $82,000 before falling back to $78,665.59. BTC’s market capitalization increased slightly by 0.27% to $1.56 trillion, while the 24-hour trading volume surged 12.36% to $69.49 billion.
Bank of Japan to Cut Interest Rates Amid Rising Inflation Expectations: Impact on Crypto and Traditional Markets
The Bank of Japan (BOJ) is set to cut interest rates today, a move that contrasts with recent inflation trends. According to a BOJ survey, inflation expectations in Japan have risen, with 86.7% of households predicting price increases within a year. This is the highest figure since June 2024 and higher than the previous December figure. Despite these expectations, which had been a reason for the central bank to consider more hikes, the BOJ has decided to cut rates. The survey also shows that companies are finally starting to raise wages and prices, conditions that had been awaited for more interest rate hikes. The decision to cut rates could impact various markets, including Bitcoin, bonds, stocks, and gold, although the specific effects are unclear at this time.
China Raises Tariffs on US to 125% in Retaliation, Crypto Market Remains Steady
In response to the United States’ decision to impose a 125% tariff on Chinese exports, China has raised tariffs on US goods to the same level. Despite escalating tensions between the two largest economies, the cryptocurrency market has shown remarkable stability. The market capitalization remains around $2.5 trillion, and Bitcoin’s price holds above $81,000. Investors appear unfazed by the intensifying trade conflict.
