Bitcoin Resists Major Miner Inflow
Bitcoin Holds Firm as Miners Transfer Record 19866 BTC to Binance
Anonymous
Bitcoin miners sent 19,866 BTC to Binance on September 21, the largest miner-to-exchange inflow since August 25, when transfers exceeded 25,000 BTC. Bitcoin remained near $85,400 without an immediate sharp decline, suggesting buyers absorbed the potential supply and that the episode tested market resilience rather than serving as a clear bearish signal. CryptoQuant says similar large inflows since 2024 have generally not been followed by immediate steep price drops. Miners commonly sell some of their production to fund operating costs, taxes, debt and equipment upgrades, so exchange transfers do not necessarily mean coins will be sold at once. Most of the latest surge went to Binance, while flows to several other exchanges were comparatively lower.
Key Points
1
CryptoQuant compared miners’ sales to gold producers’ practices: both may sell part of their output when prices are strong to finance operations and expansion.
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Binance has historically been a key liquidity hub for mining pools, while flows to alternative platforms—including Coinbase Prime, OKX, Kraken and Gemini—remained within average ranges during the spike.
3
One report described a subsequent pullback: Bitcoin fell about 4.5% from a recent high of $87,374 to around $83,428, with $82,800–$83,200 identified as a key support zone to watch.
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