#BTC行情分析#  Bitcoin Miners Could Be Key to BTC’s Next Breakout

Bitcoin BTCUSD  has been struggling to maintain its upward momentum since reaching a new all-time high (ATH) of $111,917 on May 23. Since then, the leading cryptocurrency has entered a period of correction and price stagnation, hovering around $105,000 for the past few days.

Despite this lull, on-chain metrics suggest that miners are not showing any signs of panic. Their behavior suggests growing confidence in a potential upside move, and this analysis explains why.

BTC Miner Reserve Reaches 1.8 Million: What Will Be The Impact?

Miners on the Bitcoin network are holding on to their coins despite BTC’s sideways price action. This is evident in the increasing BTC miner reserve, which indicates that fewer coins are being sent to exchanges for liquidation.

The BTC miner reserve holds 1.8 million coins and added 1,556 BTC last week. When the miner reserve increases in this way, miners on the network hold on to the coins they mined rather than sell them. This behavior is a bullish trend indicating that miners are expecting higher prices in the near term.

Additionally, BTC’s Miner-Exchange Flow, a metric that measures the total amount of coins sent from miner wallets to exchanges, has declined. When observed above the 14-day minor moving average, it has decreased by 14% in the last seven days.

When BTC’s Miner-Exchange Flow falls like this, it indicates that miners are not selling their coins. This reduced selling pressure could help stabilize BTC’s price and start a sustainable rally.

Bitcoin Price Stuck in a Straddle: Targeting $109,000?

BTC is trading at $105,103, just below the resistance formed at $106,548. If Bitcoin miners refrain from selling, this could trigger a market-wide accumulation that pushes BTC above this resistance level.

In this scenario, the coin could trade at $109,310.

However, if profit-taking gets stronger, BTC could drop to $103,061. If this support level weakens, the coin could face the risk of falling below $100,000.