Binance data indicates a significant shift in miner behavior in recent weeks, most notably when comparing December to November and October.
Since the beginning of December, the amount of Bitcoin miners are sending to the Binance platform has decreased compared to the elevated levels seen in November and October. During that period, there were frequent peaks exceeding 10,000 BTC per day, with some days recording inflows close to 15,000–18,000 BTC. This suggests a strong desire among miners to sell a portion of their reserves, either to realize profits or to cover increased operating costs following market volatility.
In contrast, December’s data shows a marked decrease in these inflows, with daily values now closer to the 2,000–8,000 BTC range. The high peaks that characterized the previous two months are absent. This decline in miner inflows is an initial indication of easing selling pressure from the mining sector—a factor that typically contributes to reducing the immediate supply in the market.
However, this decrease in flows has not been reflected in price action, as Bitcoin continues to trade near $90,200—a level significantly lower than its November peak of nearly $120,000. This suggests that the current price weakness is not related to miner selling activity, as was the case in October and November, but is more likely influenced by other factors: decreased spot demand, increased volatility in derivatives markets, and reduced global liquidity following the recent rally.
Written by Arab Chain
