Arab Chain
Miner flows weigh on the market: Over 120,000 BTC sent to Binance in September
The latest data from Binance the largest venue by Bitcoin trading volume indicate that miners continued sending significant amounts of BTC to the exchange, typically 4K–7K BTC per day Price moved between 117K and 109K, trending lower toward month-end High miner flows often coincided with selling pressure and price corrections. Daily flows frequently ranged from 5K to 7K BTC. This points to intense selling activity or a readiness to liquidate. Flows rarely dropped to very low levels (below 3K BTC), reflecting miners’ continued partial-liquidation strategy. Cumulatively, miners sent over 120,000 BTC to Binance during September. On peak-flow days (above 6K BTC), prices were often followed by an immediate or subsequent decline. Periods of reduced flows (1K–2K BTC) allowed the price to stabilize above 115K before falling again. This pattern confirms that miner behavior remains a major source of liquidity pressure on Binance. When miners send large amounts of Bitcoin to exchanges, it usually increases the available supply in order books, which often signals intent to sell. This creates additional selling pressure that weighs on price action. Conversely, when miner flows decrease, the supply pressure eases, giving the market room to absorb existing sell orders and attempt upward moves. If price rises while miner flows decrease, a move back toward the 115K area becomes more likely. Conversely, elevated miner activity is often driven by recurring operating costs, making periodic selling necessary to cover expenses, which reinforces the market’s tendency to correct when flows surge.