Bitcoin Miners Shift to Accumulation as Market Resilience Sparks Confidence
Bitcoin miners have transitioned from a prolonged selling phase to strategic accumulation, reflecting renewed confidence in the cryptocurrency's value. On-chain data highlights this shift following Bitcoin's April dip below $75,000, which served as both a technical bottom and psychological turning point. Glassnode analytics indicate that miners are now holding more Bitcoin, signaling bullish sentiment for the future. This strategic pivot underscores the resilience of the Bitcoin market and suggests potential upward momentum as miners reduce selling pressure and embrace long-term holding strategies.
Bitcoin Miners Shift Strategy from Selling to Accumulation as Market Shows Resilience
Bitcoin miners have pivoted from a prolonged phase of divestment to strategic accumulation, signaling renewed confidence in the cryptocurrency's value proposition. On-chain data reveals a notable reversal in miner behavior following Bitcoin's April dip below $75,000—a price level that appears to have served as both a technical bottom and psychological turning point.
Glassnode analytics indicate miner reserves grew by approximately 2,700 BTC between April 12 and May 13, pushing collective holdings from 1.794 million to 1.797 million BTC. While numerically modest, this directional shift carries disproportionate significance for market sentiment. The accumulation pattern mirrors historical precedents where miner buying presaged extended bullish phases.
Market observers note the timing coincides with Bitcoin's consolidation above key technical supports, suggesting miners may be positioning for the next macro uptrend. The strategic reloading of reserves contrasts sharply with the continuous outflows characterizing miner activity since late 2023.
Bitfarms Suspends Argentina Bitcoin Mining Operations Amid Power Dispute
Bitfarms, a leading publicly traded bitcoin mining firm, has abruptly halted operations at its Río Cuarto facility in Argentina. The shutdown follows an indefinite power cutoff by electricity provider Generación Mediterránea S.A. (GMSA), which is currently undergoing financial restructuring. The affected site represents 13% of Bitfarms' total mining capacity.
Despite prior assurances from GMSA about continued operations, the supplier's sudden reversal forced an immediate suspension of all mining activities. The disruption highlights the operational vulnerabilities crypto miners face in emerging markets, where infrastructure and regulatory stability remain unpredictable.
Tether Bolsters Bitcoin Holdings with $458.7M Purchase for Cantor SPAC Merger
Tether has strategically acquired 4,812 Bitcoin tokens worth $458.7 million at an average price of $95,319.83 per BTC. The purchase, executed under a Business Combination Agreement dated April 22, 2025, supports the financial architecture of an upcoming SPAC merger between Cantor Equity Partners and Twenty One Capital.
The Bitcoin allocation—designated as "Initial PIPE Bitcoin" in regulatory filings—was transferred to a Tether-controlled wallet shortly after Twenty One Capital's formation. This MOVE anchors a private investment in public equity (PIPE) structure ahead of the planned public listing.
Bitcoin Eyes New All-Time High Amid Whale Activity and Inflation Data
Bitcoin surged to $103,827 as U.S. inflation cooled to 2.3% in April, fueling bullish momentum. The cryptocurrency now flirts with a potential new all-time high, supported by aggressive whale accumulation and a 36% rally over 36 days.
Technical analysis reveals a rebound from the $75,500 Fibonacci level, with decisive breaks above both the $92,000 resistance and psychological $100,000 barrier. Market observers note weakening RSI momentum as BTC tests critical supply NEAR $104,000 - a make-or-break zone for the next leg upward.
Pantera Capital's Dan Morehead Forecasts Decades of Bitcoin Growth
Dan Morehead, founder and CEO of Pantera Capital, asserted Bitcoin's long-term potential remains vastly untapped during his keynote at Consensus 2025 in Toronto. "There are a couple more decades to go of outsized returns in bitcoin," Morehead declared, reinforcing his firm's bullish stance on the asset class.
Pantera's track record lends weight to Morehead's optimism. The venture firm has realized profits on 86% of its portfolio companies and backed 22 startups that achieved unicorn status. "We advise investing in a wide spectrum of tokens and venture equity," Morehead said, advocating for diversified exposure to crypto's evolving landscape.
Peter Schiff Acknowledges Bitcoin's Unconventional Use Case Amid Market Dynamics
Gold advocate and longtime Bitcoin skeptic Peter Schiff has conceded—albeit begrudgingly—that the cryptocurrency serves a functional purpose. The admission came in response to short-seller Jim Chanos' revelation that he used Bitcoin as a hedge against his short position in MicroStrategy (MSTR), the business intelligence firm turned Bitcoin proxy.
Chanos' strategy highlights Bitcoin's evolving role in institutional portfolios, where it now functions as both a speculative asset and a risk management tool. Michael Saylor, MicroStrategy's executive chairman and Bitcoin maximalist, unwittingly created this use case by transforming his company into a Leveraged Bitcoin bet.
The development underscores how Bitcoin's narrative continues expanding beyond store-of-value arguments. Market participants increasingly deploy it for sophisticated trading strategies, particularly around correlated assets like MicroStrategy stock.
