Bitcoin Miners Shift Strategy: Accumulation Over Selling Signals Stronger Bull Cycle

Ash Tiwari

1 month ago

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin (BTC) has declined more than 10% from its latest all-time high (ATH) of $124,128, recorded on Binance in August 2025. However, fresh on-chain data suggests that the cryptocurrency may be preparing for its next bullish wave, as miners are starting to show a structural shift in behavior.

Bitcoin Miners Shift Strategy – New High Ahead?

According to a CryptoQuant Quicktake post by contributor Avocado_onchain, recent on-chain data hints at a structural shift in Bitcoin miner behavior. At the same time, various other metrics point toward increasing resilience in the Bitcoin network.

The analyst brought attention to the Miners’ Position Index (MPI), a metric that has historically shown sharp increases in two scenarios – before a halving when miners strategically sell their holdings, and in late stages of a bull market when they dump their holdings on retail investors.

For the uninitiated, the MPI measures the ratio of Bitcoin miners’ outflows – coins sent to exchanges – relative to their one-year moving average. A high MPI indicates that miners are selling more BTC than usual – signaling increased selling pressure – while a low MPI suggests miners are holding or accumulating.

However, the current market cycle shows a different trend. While some pre-halving selling was evident, the late bull market sell-offs have been noticeably absent. According to Avocado_onchain, there could be two major reasons for the lack of sell-off.

First, the approval and success of spot Bitcoin exchange-traded funds (ETFs) may have had some influence on holders. According to data from SoSoValue, the total net assets tied in spot BTC ETFs currently stand at $144.3 billion – representing 6.5% of BTC’s total market cap.

The other potential reason for lukewarm sales of BTC at this stage of the market could be the digital asset’s rapidly rising adoption as a strategic reserve asset by major economies around the world. As a result, miners may be shifting from short-term gains to long-term accumulation.

In addition, Bitcoin mining difficulty also recently reached a new ATH, as its growth curve developed a so-called “banana zone” of sharp increases. The surge in mining difficulty reflects rising participation in the Bitcoin network, in addition to strengthening its security.

Opinion On BTC Is Split

While the miners appear to be holding BTC for the long haul, some analysts predict that the top cryptocurrency may not be out of the woods yet. Crypto analyst Daan Crypto remarked that BTC may be heading below $100,000.

That said, other analysts are more optimistic about BTC’s prospects. In a recent analysis, fellow CryptoQuant contributor CoinCare stated that BTC may have another major leg up in the bull cycle.

Meanwhile, Fundstrat’s Tom Lee forecasted that BTC may surge to $200,000 by the end of 2025. At press time, BTC trades at $114,139, up 1.5% in the past 24 hours.

Featured image from Unsplash, charts from CryptoQuant and TradingView.com

Ash Tiwari

Ash is a dedicated crypto researcher and blockchain enthusiast with a passion for diving deep into the evolving world of decentralized technologies. With a background in writing and a natural curiosity for how digital assets are shaping the future, he has immersed himself in various sectors of the cryptocurrency space, including decentralized finance (DeFi), NFTs, and liquidity mining. His journey into crypto started with a desire to fully understand the technology behind it, leading him to explore and engage with these systems firsthand.

Ash’s approach to DeFi goes beyond surface-level research as he actively participates in decentralized protocols, testing their functionality to gain a deeper understanding of how they operate. From experimenting with staking mechanisms to exploring liquidity mining strategies, he is hands-on in his exploration, which allows him to provide practical, real-world insights that go far beyond theoretical knowledge. This immersive experience has helped him develop a comprehensive grasp of smart contracts, token governance, and the broader implications of decentralized platforms on the future of finance.

In the NFT space, Ash’s interest is driven by the technology’s potential to reshape ownership and creativity in the digital age. He has explored various NFT projects, gaining insights into how these digital assets function within different ecosystems. His focus is on understanding the evolving relationship between creators and communities, as well as the innovative uses of blockchain technology to establish authenticity and provenance in the digital world. Ash’s research in this area often touches on the intersection of culture, technology, and community-driven projects.

A key area of his expertise lies in liquidity mining, where he has engaged with various decentralized platforms to understand how liquidity provision contributes to the functionality and security of DeFi ecosystems. Ash’s hands-on involvement has allowed him to analyze the risks, rewards, and broader implications of liquidity pools, giving him a well-rounded perspective on this integral part of DeFi. His understanding of risk management and protocol design allows him to provide insights into how these systems can be navigated effectively, with an emphasis on both opportunity and caution.

When it comes to communicating these complex topics, Ash’s writing is grounded in clarity and depth. He excels at breaking down intricate blockchain concepts into easily digestible information for a wide audience. Whether explaining the workings of decentralized exchanges or outlining the future potential of blockchain technology, Ash ensures that his content is accessible to both those new to the space and experienced participants looking for deeper insights.

Beyond DeFi and NFTs, Ash explores a wide array of emerging blockchain applications. His research spans areas like cross-chain technologies, decentralized governance, and blockchain’s potential to integrate with traditional finance. He is continuously learning and adapting to the latest developments, ensuring that his insights are both timely and relevant. His interest extends to how these technologies are creating new possibilities for decentralization, transparency, and trust in a variety of industries.

Ash’s commitment to engaging with the crypto space firsthand gives him a unique perspective that goes beyond what can be learned from research alone. His practical involvement allows him to stay ahead of the curve, offering readers and enthusiasts a clear and comprehensive understanding of the rapidly evolving world of blockchain. Whether delving into the technical mechanics of DeFi or exploring the cultural impact of NFTs, Ash’s approach is always rooted in curiosity, research, and a desire to make this technology accessible to all.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.