🚨 $BTC Miner Flow Alert
Bitcoin miners sold 32,000 BTC in Q1 — record quarterly outflow.
Key players:
Marathon Digital Holdings
CleanSpark
Riot Platforms
This isn’t strategy — it’s operational pressure:
• Hashprice ~ $35/PH/s (near breakeven)
• Rising energy costs
• Post-halving reward compression
On the other side: institutional buyers, including entities linked to Michael Saylor, continue absorbing supply.
Market dynamic:
• Forced selling (miners)
• Strategic accumulation (institutions)
The key signal: when absorption consistently outpaces miner supply, downside pressure eases.
Verdict: capitulation phase underway, but not a bottom signal by itself — watch flow balance closely.