Midner Bitcoin does not show signs of capitulation because construction signals remain positive, Bitfinek says

Despite the macroeconomic insecurity, the miner Bitcoin show confidence in the further armlet, as stable reserves signal their belief in the constant market growth.

Bitcoin (Btc) Miners showed no significant signs of capitulation, with chain data, continuing to signal the bilshing look, analysts on Bitfinek Alfa wrote In a recent research report.

They noticed that despite the macroeconomic turbulence and 32% fall from Bitcoin’s all the time high 2024 years, miners remains are stable. From 5. May reserves were at 1,808,674 BTC, showing little fluctuation from the level of December 2024. year, suggesting a careful holding strategy, with miners refrained from significant sales.

“Given that miners usually need to liquidate part of their operational funding farms
Costs – such as electricity, maintenance and salaries – their constant restraint of sales
Talks about expectations to appreciate the future price. “

Bitfinek Alfa

Analysts are noted that mines are still held by 32% recovery from the April Londa supports the idea that, despite recent volatility and macro of uncertainty, “We may not see the final leg cycle cycle”

Puell Multiple, key indicator of miners profitability, is also still significantly below historically elevated thresholds, which further confirm the lack of miner incentives. Typically, values ​​above 2 signal an increase in sales activity, but the current multiple multiple level suggests that the sale of a large scale is unlikely.

These stable reserves and low sales pressure strengthen the idea that Bitcoin miners remain confident in the potential of assets for future gains. Although the market remains subject to short-term fluctuations, structural signals suggest that the current cycle can still grow the space, and miners are kept to their positions in anticipation of further upside down, and analysts explain.