Since the beginning of the current market cycle, Bitcoin reserves held by miners have decreased by approximately 61,000 BTC — from 1.86 million BTC to 1.80 million BTC. The majority of these sales come from large companies such as Riot Platforms (4,026 BTC), Marathon Digital (13,210 BTC), and Core Scientific (1,992 BTC).
This is reported by Business • Media
Dynamics of Reserves and Bitcoin Movement on Exchanges
In recent days, there has been an increase in miner balances in the AntPool, which may indicate a change in strategy among market participants. Analysts note that since September 2022, which is likely considered the beginning of the current cycle, miner reserves have been consistently decreasing. Concurrently, a record influx of Bitcoins onto exchanges has been observed since late 2025, which could be a sign of preparations for large-scale sales.
Experts highlight the following trends:
- The average deposit size has risen to 2.25 BTC;
- Significant transfers over 1,000 BTC have been made, particularly on Binance;
- The share of large deposits has increased from less than 10% to over 40%.
Increased Profit-Taking Risk and Market Prospects
According to experts, the current rise in Bitcoin’s price is accompanied by an increased risk of profit-taking. The asset is currently testing the realized price level for traders near $76,800. Historically, this zone represents significant resistance, as investors who have reached breakeven tend to sell.
“This range already limited the bearish rally in January 2026. A similar dynamic may repeat. The lower boundary around $67,600 now serves as the main short-term support if the resistance holds,” said Julio Moreno, head of research at CryptoQuant.
The flow of Bitcoins onto exchanges continues to rise — the hourly influx has reached about 11,000 BTC, the highest since late December 2025. Such figures typically indicate readiness for active selling by investors. The model resembles the situation in January 2026, when the average deposit nearly reached 2 BTC, which preceded a sharp decline in Bitcoin’s value from $100,000 to $60,000.
Experts believe that the market has not yet reached the peak of profit-taking: the current daily realized profit volume is around $500 million, while in previous peaks, levels exceeded $1 billion. If the price of Bitcoin consolidates above $76,000 or rises to $76,800, this figure could reach $1 billion, which would trigger increased selling pressure and likely conclude the current rally.
Previously, analysts reported that several indicators suggested the end of a stress cycle for Bitcoin. However, the current dynamics may impact the further development of the market.