Bitcoin Miner Selling Activity Slows as Exchange Flows Remain in Long-Term Decline

Bitcoin miner selling activity has continued its downward trajectory as exchange-bound supply remains within a descending trend that started in mid-2023. The latest data from CryptoQuant shows miners transferred 4,841 BTC to Binance over the past 30 days, representing 98.66% of all miner flows to exchanges.

The recent rebound in transfers is short-lived and failed to break the broader downtrend. This trend partly reflects the impact of Bitcoin's 2024 halving, which reduced block rewards by half and naturally led to fewer BTC being produced for the same amount of computational work.

A decline in exchange flows reduces immediate selling pressure but does not confirm a bullish market on its own. Analysts caution that miner reserves should stabilize while exchange transfers remain subdued to suggest miners are holding a larger share of production instead of selling into market strength.