๐จ Marathon Digital Moves $87M Bitcoin โ Selling Pressure Incoming?
Bitcoin miner Marathon Digital Holdings has transferred 1,318 BTC (โ $87 million) to major institutional crypto platforms, raising concerns about fresh selling pressure in the market.
๐ What Happened?
On February 6, Marathon sent Bitcoin to:
๐ฆ Two Prime
๐ BitGo
๐ Galaxy Digital
All transfers happened within a 10-hour window, a pattern often associated with structured selling, collateral usage, or treasury rebalancing.
๐ Marathon Still a BTC Giant
Despite the transfers:
Marathon still holds 52,850 BTC
Remains among the largest corporate Bitcoin holders globally
โ ๏ธ Why This Matters
Bitcoin is currently trading around $64,800, after a sharp decline. These transfers are fueling fears that miners may be selling into weakness.
โ๏ธ Miners Under Pressure
Average Bitcoin mining cost: $87,000+
Current BTC price: ~$65,400
Many miners are now selling at a loss
๐ CryptoQuant data shows:
Miner reserves dropped to 1.806 million BTC
Clear sign of increased miner sell-offs
๐ Whales Are Selling Too
Selling pressure isnโt just from miners:
Wallets holding 10โ10,000 BTC now control only 68.04% of total supply (9-month low)
Whales sold 81,068 BTC in just 8 days (Santiment data)
๐ฎ Market Outlook
With miners and whales both reducing holdings, Bitcoin could face continued volatility unless strong demand returns.
๐ Smart money is moving โ markets are watching closely.
