Bitcoin Miners Ease Selling as Analysts Warn of Steep BTC Correction Below $100K

TLDR:

Bitcoin miners have reduced exchange transfers, easing near-term supply pressure.
BTC trades at $103,323 after falling 3.43% in 24 hours, per CoinGecko data.
Analysts warn of potential sub-$100K correction if $104K resistance holds.
On-chain data suggests 328 days remain before Bitcoin’s next cyclical bottom.

Bitcoin miner outflows have fallen sharply since late October, easing short-term selling pressure across the crypto market. Data shows fewer BTC being transferred from mining wallets to exchanges, reducing immediate sell-side liquidity. 

The shift follows months of heavy profit-taking that peaked in mid-summer. While the slowdown offers relief, market analysts caution the next phase could bring volatility rather than sustained recovery.

Bitcoin Miner Selling Slows as Supply Pressure Eases

According to data shared by CryptosRus, miner outflows have declined since the October spikes, signaling reduced exchange transfers and less forced selling. 

Historically, such trends have preceded stabilization phases in Bitcoin’s price cycles. The network’s miners appear to be holding reserves again, suggesting improving sentiment following months of aggressive selling.

Bitcoin currently trades at $103,323, per CoinGecko, with a 24-hour decline of 3.43% and a weekly gain of 1.9%. The decline below the $104,000 mark followed brief consolidation near the quarterly open, highlighting renewed market uncertainty. 

Lower miner activity could strengthen the market’s base, though price action remains vulnerable to technical rejection zones.

Market participants continue to watch the $104,000 level as a key pivot point. A recovery above it could shift short-term momentum, but sustained weakness risks a move toward five-digit territory. 

Analysts note that miner restraint alone may not offset broader macro and technical pressures weighing on Bitcoin.

Analysts Warn of Correction Toward $100K or Lower

While miner selling has eased, traders remain cautious about potential downside pressure. 

KillaXBT warned that Bitcoin’s break below $104K could trigger a test of weekend lows and possibly extend below $100K if support fails. The analyst pointed out that reclaiming $104K is crucial for the bullish structure to remain intact.

On-chain sentiment remains mixed, with traders balancing reduced miner outflows against declining price momentum. Some view this as a transition period before the next recovery phase, while others expect a deeper correction based on cyclical indicators. Short-term volatility could persist as leveraged positions unwind.

Crypto analyst Ali projected that Bitcoin may not reach its next market bottom for 328 days, estimating a potential range between $38,000 and $50,000. The long-term forecast reflects broader cycle patterns rather than immediate downside, but it highlights caution across the market.

The market’s near-term trajectory will likely depend on whether Bitcoin can maintain support above $100,000 while miner discipline continues. With fewer coins entering exchanges, structural supply pressure has eased, but traders remain alert to potential liquidity shocks.