Miners sell off as Bitcoin price struggles to surpass $100,000

Recently, Bitcoin miners have intensified their asset sales as the price of Bitcoin fails to exceed the $100,000 mark. At this time, Bitcoin is trading around $98,050, down nearly 2% from its all-time high of $99,860. Data from CryptoQuant shows that miners' reserves have dropped to their lowest level since the beginning of the year, with only 1.81 million BTC remaining in their wallets. This indicates that they are selling to take profits or to offset rising mining costs.

The miners' net flow index also confirms this trend, showing that they are selling more than they are buying, with a value of -1,172 BTC. Despite the selling pressure from miners, a positive outlook for Bitcoin's price still exists. Indicators like the Parabolic SAR suggest an upward trend, and some experts predict that if this trend continues, Bitcoin could surpass the $100,000 mark in the near future.