bullish

Bitcoin

Strong

strong bull

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Bitcoin remains strong above $90,000, despite increased selling from miners and profit-taking activity.</li> 
 <li>On-chain data suggests a consolidation phase before the next potential breakout.</li> 
</ul>  
<p>Bitcoin [BTC] continues to exhibit a bullish momentum, maintaining a strong position above $90,000 and nearing new all-time highs.</p> 
<p>Recent on-chain data, however, indicates that bitcoin miners have sold over 3,000 BTC in the past 48 hours, possibly indicating a short-term pullback.</p> 
<h2 id="bitcoin-miners-take-profits">Bitcoin Miners Take Profits</h2> 
<p>Crypto analyst Ali Martinez recently noted that Bitcoin miners have sold over 3,000 BTC, equivalent to around $273 million, in the last 48 hours. This increase in miner selling typically signals a cooling-off period, as miners, often considered long-term holders, take profits during periods of rapid price growth.</p> 
<p>Such behavior is common in strong bull markets and implies that the market may be preparing for a brief pause or a price correction in the near term. </p> 
<p>The miner outflow chart showed significant spikes in Bitcoin leaving miners’ wallets, coinciding with the recent price surge.</p> 
<h2 id="bitcoin-stands-strong">Bitcoin Stands Strong</h2> 
<p>Bitcoin’s price has been on a relentless rise, setting new all-time highs multiple times in the past 11 days — a clear testament to its continued bullish momentum, as it stands strong above the $90,000 level.</p> 
<p>However, after such a strong rally, the market seems to be entering a consolidation phase, as profit-taking from both investors and miners gains momentum.</p> 
<h2 id="consolidation-phase-ahead">Consolidation Phase Ahead?</h2> 
<p>Bitcoin’s current consolidation phase above $90,000 is a natural and beneficial step following its explosive rally.</p> 
<p>Consolidation allows the market to absorb recent gains, shake out weaker hands, and establish a stronger foundation for the next move.</p> 
<p>Key support levels, particularly in the $88,000-$90,000 range, will be critical in maintaining the bullish structure.</p> 
<p>A drop below these levels could signal increased selling pressure, potentially triggering a deeper correction, while a strong defense of this range may reaffirm market confidence and set the stage for further growth.</p> 
<p>Despite short-term selling pressure from miners and profit-taking by investors, Bitcoin’s fundamentals remain robust.</p> 
<p>Should Bitcoin sustain these levels, the possibility of a breakout toward $100,000 can become increasingly likely, positioning the ongoing consolidation as a critical stepping stone towards further price increase.</p>

Did Bitcoin Miners Precipitate a Consolidation Phase After BTC’s Record High?

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CoinEagle.com

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