Triple Supply Squeeze in Bitcoin: Stock Among Miners is Decreasing!
The reserves held by miners, who are the biggest production force in Bitcoin, are at their lowest levels in recent years as of January 2026.
What Does This Table Tell Us?
Miner Sales Have Reached Saturation: The decline of the purple line to the 1.802M levels indicates that the selling pressure from miners in the market has significantly eased.
Large Accumulation: While the price tries to hold around $82.5K, the lack of increase in miner reserves suggests that the produced Bitcoins are going directly to institutional wallets or long-term storage instead of the exchanges.
Supply Shock is Deepening:
1. Bitcoin is decreasing on exchanges.
2. Excess risk in futures trading has been cleared.
3. Now we see that the miner stock is at a low point.
Conclusion: The amount of "liquid" Bitcoin in circulation is decreasing every day. With supply tightening this much, the impact of even the slightest wave of institutional demand on price could be much more severe than in the past.
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