Looking at MPI & Puell Multiple (miner selling and profitability).

Post-halving we are in the longest period of reduced miner sell pressure since Bitcoin was ranged along $16k (14 days and counting). Miners are also logging their lowest revenue in a year.

With ETF flows rising, and odds increasing of a rate cut in Q4, miners are likely accumulating in anticipation of higher prices to sell into.

Written by Papi