Posteo

🚨 One of Bitcoin's biggest sellers may finally be running out of steam. The latest miner data is starting to tell a different story. On July 29, miner wallet balances fell to 1.193 million BTC, the lowest level in nearly a month. But here's the important part: The pace of selling is slowing. Over the previous two weeks, miners reduced their holdings by roughly 5,000–8,000 BTC per week. This week, that number dropped to just around 2,000 BTC. That's a meaningful shift. Mining, however, is still under pressure. According to JPMorgan, the average cost to produce one Bitcoin is about $78,000, while BTC is trading near $64,000. That leaves a significant portion of miners operating below their estimated production cost. At the same time, Bitcoin's network hashrate has continued to cool, falling from a peak of 986 EH/s in early July to roughly 903–948 EH/s today. The Miner Position Index (MPI) remains near historical lows, and the Hash Ribbons indicator has yet to flash a capitulation signal. If miner stress continues, that signal could emerge in August. For now, the takeaway is simple: Miners are still selling—but they're selling less. If that trend continues, one of Bitcoin's largest sources of selling pressure could begin to fade, giving the market a better foundation once demand returns. When the biggest sellers start running out of coins, the next move often depends on who steps in to buy. $BTC #DailyOrbit #Bitcoin #Crypto #Mining #Hashrate #DailyOrbit