Miners Sent 90,000 BTC to Binance in February — Major Short-Term Sell Pressure
On-chain data shows Bitcoin miners moved about 90,000 BTC to Binance in February 2025, the largest monthly miner-to-exchange flow since early 2024. A single 24‑hour peak reached roughly 24,000 BTC. Analysts say miners were likely securing fiat for operating costs and taking profits amid recent volatility. Given Bitcoin’s daily issuance of ~900 BTC, a one‑day transfer of 24,000 BTC equals more than 26 days of new supply hitting an exchange order book, materially increasing short-term sell-side liquidity. The flows coincided with a sharp price correction that briefly pushed BTC below $60,000 and a wider drawdown from the prior all-time high; roughly 241,000 BTC entered exchanges during that period. Retail selling (holders <1 BTC) spiked on exchanges but eased as prices recovered, while large holders (whales) continued accumulating into long-term addresses. Market implications for traders: elevated miner outflows are a clear, quantifiable source of near-term selling pressure that can amplify volatility if buy-side demand is insufficient. However, miner transfers often reflect operational risk management rather than a shift in long-term fundamentals. Traders should monitor exchange reserves, miner revenue and payout patterns, hash rate stability, whale accumulation, and order-book depth to assess whether the market can absorb the added supply. Key figures: 90,000 BTC monthly total (~$5.85B at $65,000/BTC), 24,000 BTC daily peak. Primary keywords: Bitcoin, BTC, miner outflows, Binance, sell pressure, on-chain data.
Bearish
Large miner transfers to exchanges increase available sell-side liquidity and can exert measurable downward pressure on BTC price in the short term. A one-day influx equal to 26+ days of issuance (24,000 BTC) is especially significant: it can overwhelm normal order-book absorption during low-liquidity periods and amplify volatility. The coincident exchange inflows during the recent correction (about 241,000 BTC) underline that supply-side dynamics contributed materially to the sell-off. However, context moderates the bearish signal: miner sales are often operational (covering costs, hedging) rather than directional bets, and simultaneous whale accumulation and easing retail selling provide countervailing demand that can stabilise prices. For traders, the immediate impact is elevated downside risk and higher intraday volatility; effective strategies include watching exchange reserves and order-book depth, using tighter risk management, and monitoring whale flows to detect absorption. Over the long term, unless miner selling persists alongside weakening demand, the event is less likely to change Bitcoin’s fundamental outlook.