Bitcoin Miners Dump 15,000 BTC, Price Pressured Near $70,000

Recently, the price of Bitcoin has fluctuated around $70,000, and the market is full of doubts about its future trend. Data shows that since October of last year, several Bitcoin mining companies have sold a total of more than 15,000 BTC, raising concerns among investors about oversupply in the market.

Among them, Cango reduced its debt burden and optimized its financial structure by selling Bitcoin; while MARA Holdings still holds more than 53,000 BTC, but stated that it will flexibly adjust its position strategy according to market conditions. It is worth noting that the miners' selling behavior is not purely for profit-taking, but more to cope with increasing operating costs.

As the entire network's computing power continues to climb and mining difficulty continues to increase, electricity and equipment maintenance costs have increased significantly, resulting in a compression of miners' profit margins. At the same time, some companies are shifting funds to artificial intelligence infrastructure construction, such as building AI data centers, to seek higher-return emerging tracks. For example, Core Scientific and other companies have planned to sell thousands of Bitcoins in the first quarter of 2026 to support AI project investments. Industry observers pointed out that the total amount of Bitcoin held by companies has decreased by more than 37% in the past three months, setting a record for the largest decline. Some institutions believe that Bitcoin's function as a corporate asset allocation tool is weakening, and mining companies are gradually shifting from "hoarding coins" to "cash is king." From a technical perspective, Bitcoin is currently quoted at approximately $70,191, down approximately 3% in 24 hours. Analysts believe that if market demand fails to effectively absorb the continuous selling pressure from mining companies, coupled with the rise in risk aversion caused by geopolitical risks (such as the Middle East situation), Bitcoin may once again test the key support level of $70,000. In the short term, miners' liquidity needs and capital structure adjustments will become important variables affecting price fluctuations.