MARA Deposits 644 BTC to Exchanges, Fuels Bitcoin Sell-Off
Mining firm MARA moved 644 BTC (≈$58.7 M) to FalconX and Coinbase Prime, signaling potential selling pressure that could deepen Bitcoin’s current correction. On-chain data from Lookonchain shows this latest miner flow amid heightened market fear. Traders worry the fresh supply will accelerate short-term volatility as Bitcoin tests critical support around the $91,000–$92,000 zone near its 50-week moving average. Despite strong downside momentum and increased volume on down-moves, analysts argue the deposit is a routine treasury action—MARA has previously offloaded thousands of BTC at once. The long-term trend remains intact above the rising 100-week MA, suggesting this sell-off may influence short-term trading but is unlikely to trigger a structural bear market if key supports hold.
Bearish
MARA’s transfer of 644 BTC to FalconX and Coinbase Prime increases short-term supply and heightens selling pressure, pushing Bitcoin toward its 50-week moving average support near $91k–$92k. Historically, miner sell-offs—such as in mid-2021—exacerbated corrections when market sentiment was fragile. While analysts note this is a smaller, routine transfer relative to past moves, the psychological impact and on-chain signal of fresh selling can trigger stop-loss cascades and volatility among traders. In the short term, expect downward pressure and choppy trading as Bitcoin tests its key support. However, if it holds above the 100-week MA, the long-term bullish structure remains intact.