Bitcoin supply is quietly getting absorbed - and miners are stepping back

Something is shifting under the surface. While $BTC price action looks uncertain, long-term holders just increased demand by 48.5% in a week, absorbing over 67K BTC as miner selling drops to 2024 lows.

On-chain highlights:

Accumulator addresses: ~205KB $BTC vs

138K last week

Miner Pressure (MPI): down to -1.042, lowest since 2024

Accumulation spike came during price decline

This is a classic setup. Strong hands are buying while natural sellers (miners) are slowing down tightening available supply.

If this trend continues, the market may be setting up for a supply squeeze rather than another leg down.