The Agonizing Truth, or Perhaps Just Another Delusion
What do miners know that we don’t? (Probably nothing, but let’s pretend)
The miners-those shadowy figures churning away in their digital caves-were not, in fact, dumping their hoards at every minor peak. No, no! Instead, they sold gradually, like a miser counting pennies before reluctantly parting with them. A sign of health? Or just indecisiveness? Who knows! But optimism, dear reader, is a cruel mistress.
What fresh torment awaits holders?
The institutions-those faceless titans of finance-claimed to be bullish for the next 3-6 months. Meanwhile, sellers were weakening, gasping their last breaths like a dying candle. Hope? Ha! A fleeting illusion, perhaps. But then again, isn’t everything?
The short-term Bitcoin holders, those pitiful souls, were still writhing in agony, a recent report revealed. Yet, history-that relentless, mocking specter-whispers that such suffering has often preceded rallies. Or was it just another cruel joke? Time, that merciless judge, will tell.
The present is uncertain, a fog of doubt and hesitation. But the long term? Ah, there lies opportunity-or perhaps just another trap. Nearly 67% of institutions surveyed by Coinbase, those paragons of wisdom (or folly?), proclaimed bullishness. Whales accumulated, illiquid supply barely budged-conviction, or just stubbornness?
A Shift in Miner Behavior: Subtle or Just Imagined?
In a post on CryptoQuant Insights (because where else would such revelations occur?), analyst CryptoOnchain-likely a pseudonym for someone who enjoys staring at charts too much-observed that the Miner’s Position Index suggested reduced selling pressure.
The 100-day simple moving average of the MPI reached -0.12, meaning miners were selling less than their usual rate. Were they hoarding? Or just bad at math? Since July, the MPI has crept upward, hinting at controlled distribution rather than panic. Or was it just exhaustion?
Net Position Turns Positive-But For How Long?
Glassnode, that ever-watchful eye, confirmed this moderation. The Miner Net Position Change metric-tracking 30-day shifts in miner-held supply-was mostly green from May to August, suggesting accumulation. Then came August’s selling, lifting the MPI. But in recent weeks? Accumulation again. Controlled selling, or just erratic behavior? You decide!
Profit Share Data: Easing Pressure or Just Another Mirage?
Crypto analyst Axel Adler Jr-another mysterious figure-declared that selling pressure was easing. Based on what? The Percent Supply in Profit, naturally. The price dip was being bought, coins were shifting hands, and the drawdown was shallower. Bearish momentum weakening? Demand returning? Or just another fleeting moment before the next plunge? Only the market knows-and it’s not talking. 😏
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2025-10-26 10:03