Bitcoin accumulation surges as miner selling cools near $67K BTC
Bitcoin accumulation addresses have absorbed about 67,000 BTC as miner-led selling fades. On-chain data shows accumulator inflows rising while total miner outflows fall to 2024-level lows.
CryptoQuant data cited in the report shows accumulator balances climbed to roughly 205,000 BTC on March 30, up from about 138,000 BTC on March 23, after a prior peak near 210,000 BTC. This pattern suggests active absorption of available supply during the recent BTC pullback—key evidence that long-term holders are stepping in.
The selling backdrop also improved. Analyst Nino pointed to the Miners’ Position Index (MPI) 30-day moving average dropping to -1.042, a level last seen in the 2024 lows. Since MPI compares miner outflows to a one-year average, a lower value implies reduced sell pressure and less BTC entering circulation.
However, short-term market signals are mixed. Binance’s seven-day net taker flow turned negative at around -$1.2 billion, after a positive $3.28 billion reading earlier in March—indicating heavier aggressive sell pressure in derivatives.
Sentiment remains subdued. The Bitcoin Unified Sentiment Index was -62.9% versus near-neutral -2.42% on March 15. The report frames this as fear easing while conviction stays limited, with trading activity still tightly linked to liquidity around the $75,000–$60,000 range.
Overall, the rise in Bitcoin accumulation supports a potential supply-demand shift, but exchange flow and sentiment suggest traders should watch for whether this bid can outweigh near-term derivative selling.
Neutral
Bitcoin accumulation addresses have been absorbing ~67K BTC and miner-led selling has cooled (MPI near 2024 lows). That combination often reduces immediate sell-side pressure and can support downside stabilization.
Yet, the report also shows negative short-term exchange/derivatives signals: Binance seven-day net taker flow slipped to about -$1.2B and the Bitcoin Unified Sentiment Index remains deeply negative (-62.9%). Similar past setups typically produce range trading first: long-term holders accumulate while derivatives positioning remains risk-off, limiting upside follow-through until sentiment and taker flow improve.
So the expected impact is neutral-to-slightly constructive on stability, but not a clear bullish breakout signal. Traders should monitor whether accumulator inflows persist while exchange/derivatives selling continues to fade around the $75K–$60K range.