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Miners Are Betting on a Bitcoin Price Rise
I have consistently emphasized the importance of miners’ actions within the Bitcoin network, as these core participants play a key role in every cycle, often leading to increased price volatility for Bitcoin. During each cycle, miners tend to sell Bitcoin and temporarily halt some mining operations to cover costs, especially as the halving approaches. When Bitcoin’s price stagnates, miners often start accumulating or holding their Bitcoin rather than selling. As the latter part of the bull run begins, they gradually release Bitcoin into the market, preparing for the next cycle. Looking at the MPI (Miner Position Index), miners are still holding Bitcoin in their wallets, with no significant movements toward exchanges for selling. Historically, when the MPI rebounded from a low, Bitcoin’s price tended to experience significant increases. Therefore, the current situation could also be interpreted as a prelude to a Bitcoin price rally. Block rewards per block are also rebounding, indicating increased transaction activity within the Bitcoin network, which often accompanies substantial price increases. Currently, Bitcoin’s price is showing very favorable movement for an uptrend, and I expect new highs either by the end of this year or in the next. For now, it is a time for patience.