Bitcoin miners Dumped A record 40,000 BTC were sold in the first quarter of this year — more than the total for all of 2025 combined and well above the 20,000 BTC sold in the panic that followed Terra’s collapse in mid-2022. This number lies quietly beneath the surface of what appears to be a recovering market.
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Miners point to a problem even as prices rise
The sell-off came as mining difficulty fell 2.4% to 135 trillion, while the network hash rate rose from about 978 exahashes per second to 992 exahashes per second this month, according to data from Glassnode.
When producers sell at a record pace during low difficulty, it indicates one thing: tight profit margins. Mining economics have not recovered the way the price chart might suggest, and any sustained move above $80,000 should absorb continued selling from the same group.
Bitcoin Oil was trading at $76,827 at noon on Tuesday, up 1.4% in 24 hours, as Iran confirmed it would send a delegation to Pakistan for a second round of ceasefire talks.
ether It rose 1.18% to $2,311. XRP rose 1.2% to $1.42. Solana The group lagged behind, rising just 0.9% on the day and falling 1% for the week.
The broader market moved in the same direction. The MSCI world index rose 0.1% after stopping on Monday, with Asian stocks leading the rise and the regional technology index rising 2.38%.
Brent crude fell 0.7 percent to $94.80 a barrel. gold It fell 0.6% to about $4,800. Silver fell 1 percent to $78.89. Treasuries and the dollar were largely flat.
A deadline that markets cannot ignore
The two weeks cease-fire The agreement between the United States and Iran expires on Wednesday evening, Washington time. US President Donald Trump said on Monday that he had no intention of extending it.
Markets are now priced around this deadline. Three ships attempted to pass through Strait of Hormuz Early Tuesday, as the US and Iranian blockade continued — the first real test of whether the waterway was being cleared before any deal was signed.
Bitcoin has lagged stocks over this stretch. The MSCI ACWI has been rising for 11 days and has faltered only once since the de-escalation began. In contrast, Bitcoin spent the same period creeping from below $75,000 to just over $76,000.
Demand for ETFs remains steady
Bitcoin spot ETFs It earned $996 million last week, according to SoSoValue. Ethereum Spot ETFs It generated $276 million during the same period. This institutional buying has maintained a price floor even as mining companies push supply into the market.
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Research firm Caico said a clear break above $76,000 would open the way towards $85,000. Analysts at K33 have pointed to the same level as a potential short squeeze trigger. On the downside, a pullback below $75,000 – if Wednesday’s deadline passes without an agreement – remains the main thing risk traders are watching.
Bitcoin’s ceasefire rally has given a boost to Alpha Crypto. Miners use it for sale. Until that changes, the rebound will have a floor but no clear ceiling.
Featured image from Unsplash, chart from TradingView
