Bitcoin News Today: Miner Exodus Sparks Bitcoin's Bull-Bear Tightrope Act

Bitcoin faces intensifying price pressure as mining activity triggers accelerated selling. Over the past 12 days, Bitcoin miners have sold $485 million worth of BTC, marking the fastest liquidation rate in nine months. According to data from Glassnode, this includes the sale of 4,207 BTC, bringing miner liquid balances down to 63,736 BTC, valued at over $7.1 billion [1]. This recent selloff contrasts sharply with the accumulation phase from April to July, where miners added 6,675 BTC to their stockpiles. The increased selling is attributed to both the growing difficulty of mining and a decline in on-chain transaction demand, both of which are compressing miner profitability [1].

The market is also witnessing a shift in miner strategies as profitability pressures grow. HashRateIndex data reveals that while Bitcoin’s price has risen by 18% in the last nine months, miner profits have fallen by 10%. The Bitcoin hashprice index now stands at 54 PH/second, down from 59 PH/second just a month ago [1]. To adapt, several mining companies are pivoting toward AI infrastructure. For instance, TeraWulf has secured a $3.2 billion investment from Google for its AI data center in New York, while Iren and Hive are investing heavily in GPU-powered operations in North America [1]. These strategic pivots suggest a broader industry effort to diversify revenue streams in response to Bitcoin’s volatility.

Despite the increased selling pressure, Bitcoin remains above $111,000, with a recent rebound to $112,000 [1]. Institutional demand for Bitcoin continues to show strength, with institutional investors accounting for over 75% of Bitcoin trading volume on Coinbase. In Q2 2025, corporate Bitcoin ownership increased by 35% from the previous quarter, with holdings rising from 99,857 BTC to 134,456 BTC. This surge in demand has created a supply-demand imbalance, as institutional buying outpaces daily mining output by up to six times [1].

The long-term bullish case for Bitcoin remains intact, supported by increasing institutional adoption. MicroStrategy is the largest corporate holder of Bitcoin, with over 632,457 BTC valued at more than $71 billion. The number of publicly traded companies holding at least 1,000 BTC has also risen, from 24 at the end of Q1 2025 to 35 currently [1]. Bitwise analysts predict that Bitcoin could reach $1.3 million by 2035, driven by inelastic supply and rising institutional demand. By 2032, annual Bitcoin issuance is projected to drop to 0.2%, further tightening supply dynamics [1].

However, technical indicators highlight the need for caution. Bitcoin is forming bullish megaphone patterns on multiple timeframes, suggesting potential price targets of $144,000 to $260,000. On the daily chart, two distinct patterns indicate price targets at $144,200 and $206,800. A recent pullback to $108,000 has pushed short-term holder MVRV ratios into oversold territory, similar to the April 2025 bottom [1]. Yet, Bitcoin faces immediate resistance at $113,000, and a break below $110,750 could test the $106,500 support level. The hourly MACD and RSI remain bearish, indicating short-term weakness.

Looking ahead, Bitcoin is expected to consolidate in the $108,000 to $124,500 range until the next major price move. While miner selling adds near-term downward pressure, the structural imbalance between supply and demand suggests that any weakness is likely to be absorbed. A decisive break above $124,900 could validate the megaphone pattern and initiate a parabolic phase toward $144,000 to $260,000. Network fundamentals remain robust, with the hashrate near an all-time high of 960 million TH/second, which alleviates concerns about mining sector stress [1].

Source: [1] Bitcoin Grapples with Miner Selling as Long-Term Outlook Remains Bullish (https://www.fxleaders.com/news/2025/08/29/bitcoin-grapples-with-miner-selling-as-long-term-outlook-remains-bullish/) [2] Short-term wallets stoke selling pressure fears as BTC (https://www.mitrade.com/insights/news/live-news/article-3-1076591-20250828)