Bitcoin miner sales surged to the highest level since April – Details:

Bitcoin is currently holding above the $115,000 level, after reaching a new all-time high of around $123,000 last Monday. The price structure remains strong and bullish, with buyers still in control of the market, but increasing signs indicate the potential for a short-term correction. Momentum is slowing, and the market is entering a consolidation phase as traders reassess risks.
According to new data from CryptoQuant, Bitcoin miners' selling volume has surged dramatically. On July 15, the same day Bitcoin reached its latest peak, the average daily BTC inflow to exchanges jumped from 19,000 BTC to 81,000 BTC—this clearly indicates that major holders, including miners and whales, are capitalizing on high prices to sell their assets. Notably, the outflow from miners surged to 16,000 BTC, the highest daily level since April, with almost all of the outflow sent directly to exchanges.
The inflow of these funds indicates a change in the sentiment of large participants, increasing the probability of supply pressure in the short term. Although the overall trend remains unchanged and the activity of long-term holders and other fundamentals remain strong, the surge in exchange deposits is a classic signal worth noting. Whether this will lead to a deeper correction or just a healthy reset may be determined in the coming days.
Miners took profits when Bitcoin reached an all-time high.
New data from CryptoQuant indicates that when Bitcoin reached a new all-time high of around $123,000, miners resumed aggressive selling behavior. On July 15th, outflows from miners surged to 16,000 BTC—this is the highest total in a single day since April 7th. This level of activity represents what CryptoQuant analysts describe as "extreme outflows," suggesting that miners are taking the opportunity to profit at high price levels.
Miners have almost sent all the BTC they extracted from their wallets directly to centralized exchanges. This reinforces the interpretation that this move is not just a strategic reconfiguration, but a proactive decision to sell during a strong market. Such behavior often indicates that miners are becoming increasingly cautious, as they may anticipate a price softening in the near term, or are simply taking advantage of favorable conditions after holding for several months.
Miner behavior has long been viewed as a leading indicator of potential market changes. An increase in outflows—especially those heading to exchanges—often occurs before subsequent volatility spikes or temporary peaks. Although the overall Bitcoin trend remains bullish and investor demand stays strong, this wave of miner selling has introduced a degree of uncertainty.
BTC is consolidating below its historical high after a strong rebound.
The daily chart of Bitcoin ( BTC/USD ) shows that the price is consolidating within a tight range between $115,730 and $123,230, after reaching a new all-time high. This area now serves as a short-term channel, with buyers defending the $115K region while facing resistance near $123K. The latest daily candlestick chart indicates low volatility, suggesting hesitation among traders as Bitcoin pauses after its recent breakout.
After breaking through to a historic new high, trading volume has decreased, which may signal fatigue among large buyers or a decline in participation. The 50-day simple moving average (SMA) at $108,796 is still well below the current price, confirming that bullish momentum still exists. However, if it falls below the $115K level, the 50-day SMA may be viewed as a potential support level.
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Currently, the trend structure still appears bullish, but as more and more analysts point out Miner sales and whale activity, traders are closely monitoring price movements for signs of a pullback or a re-breakout. If BTC can reclaim $123,230 with volume, then the next round of upward movement may follow. Before that, this consolidation could serve as a healthy cooldown before the next significant move.
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