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Bitcoin Sell-Off Warning? Miner-To-Exchange Transfers Hit Historic Highs

Ash Tiwari
by Ash Tiwari
1 month ago
·
Posted in Bitcoin News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin (BTC) experienced a mild sell-off yesterday, hitting a daily low of $100,372 on Binance crypto exchange. However, recent on-chain data suggests the price slump may persist, as BTC miners continue transferring coins to exchanges at unprecedented levels.

Bitcoin Miners-To-Exchange Transfers Hit Record High

According to a recent CryptoQuant Quicktake post by contributor CryptoOnchain, the total realized inflow from Bitcoin miners to exchanges has surged to historic highs. This spike likely contributed to the recent price tumble from the mid-$100,000 range.

Related Reading: Pakistan Taps Surplus Power to Enter Bitcoin Mining Race—Here’s What’s at Stake

For the uninitiated, Bitcoin miners’ total realized inflow to exchanges measures the actual amount of BTC that miners have transferred from their wallets to cryptocurrency exchanges. A sharp rise in this metric typically signals that miners are selling more of their holdings, which can increase supply in the market and potentially drive prices down.

CryptoOnchain shared the following chart showing miners’ inflows surpassing $1 billion per day between May 19 and May 28, 2025. If this trend continues, BTC could face a deeper correction, potentially falling into the low $90,000 range.

cq1
Source: CryptoQuant

A similar trend was observed earlier this year in January when BTC was in the midst of a historical rally, creating multiple new all-time highs (ATH) in quick succession. At the time, BTC miners offloaded close to 140,000 coins for roughly $13.72 billion.

Meanwhile, seasoned crypto analyst Ali Martinez pointed out another bearish signal. In an X post, he noted that the Bitcoin Market Value to Realized Value (MVRV) ratio has fallen below its 200-day simple moving average (SMA) – a sign that may lead to further selling pressure.

ali
Source: ali_charts on X

When the MVRV ratio falls below its 200-day SMA, it suggests that the average market participant is holding Bitcoin at a loss or near break-even. This often indicates bearish sentiment or undervaluation, which can trigger further selling among small investors.

BTC Holders Cautiously Optimistic

Adding to the rising uncertainty, yesterday’s public feud between US President Donald Trump and Elon Musk further dampened market sentiment. Some analysts now predict BTC could fall as low as $96,000.

Related Reading: Russia’s War On Illegal Mining Heats Up With Bitcoin Raids

Fellow crypto analyst Anup Ziddi made a similar bearish forecast. The analyst recently stated that as long as BTC remains below $107,000, its chances of further crashes will remain elevated.

That said, there are still reasons for cautious optimism. Recent on-chain data shows that new Bitcoin whales are aggressively accumulating the asset, reinforcing the potential for a future supply squeeze. At press time, BTC is trading at $104,963, up 0.2% in the past 24 hours.

bitcoin
BTC trades at $104,963 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, charts from CryptoQuant, X, and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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