I think most people are watching Bitcoin’s price…..
But missing what’s happening underneath.
Miners are getting squeezed.
And the pressure is building.
Right now, around 20% of miners are operating unprofitably
That alone caught my attention.
But this part hit harder:
Public miners sold 2,000+ $BTC in Q1 alone
Thats already more than they sold in all of 2025
Think about that for a second.
$BTC has traded below mining cost for almost 5 straight months.
That means some #miners aren’t holding anymore
They are selling because they have to
Electricity doesn’t wait
Hardware costs dont wait
Bills don’t care about conviction
This is what makes mining cycles so interesting
When miners get squeezed weak players usually break first
Strong players survive
And historically…..
these stress periods often come before major shifts in the market.
The big question is:
Is this miner capitulation near the end…...
Or is more pain still coming???
👀
What do you think bearish warning sign or bullish setup????
