Bitcoin Miners Dispose of 16,000 Coins: Could the Bullish Trend be in Peril?
In a significant move, Bitcoin miners sold a record 16,000 BTC on July 15, 2025, taking advantage of the high prices (above $120,000) to realise profits and cover rising operational costs such as electricity and mining difficulty. This move has created short-term selling pressure on Bitcoin, adding supply to the market, which could weigh on price gains in the near term [1][3].
However, this miner selling does not currently appear to undermine the overall bull run. Long-term holders remain confident and are not significantly increasing their selling activity, contrasting with previous cycles where high selling pressure from all holders triggered sharp corrections [2].
The reason for this confidence lies in the stronger institutional interest, particularly via Bitcoin ETFs that consistently buy more Bitcoin daily than is mined, and declining exchange reserves. These factors create a supply shock that supports upward price momentum [2][4].
While the miners' large BTC sale presents a potential headwind by increasing short-term supply, the broader structural factors including long-term holder confidence, institutional demand, and falling available market supply imply that Bitcoin's bull run may still have room to continue before a notable correction occurs [2][4].
It's important to note that the selling pressure is not coming solely from miners but also from large BTC holders. Nearly 300,000 BTC have been sold by long-term holders [5]. However, the RHODL ratio, which measures the ratio of Bitcoin held for more than a year to the total supply, has seen a significant increase, indicating strong demand and a return of retail [6].
In summary, the current miner selling can be viewed as a profit-taking event amid a strong uptrend rather than a definitive signal of an imminent bearish reversal [1][3]. The overall sentiment remains bullish, with analyst Willy Woo predicting Bitcoin could remain stable for some time before taking a new direction [7]. Meanwhile, Bitcoin could reach $127,000 very soon, according to the MVRV Bollinger band of short-term holders [8].
This article was written by Charles Ledoux, a Bitcoin and blockchain technology specialist with over a year of mining experience [9]. Charles has written numerous masterclasses and over 2,000 articles to educate new entrants to the industry [10].
References: [1] Blockstream. (2025). Bitcoin Miner Revenue Hits All-Time High. [online] Available at: https://blockstream.com/news/bitcoin-miner-revenue-hits-all-time-high/ [2] Ledoux, C. (2025). Bitcoin's Bull Run: What Lies Ahead? [online] Available at: https://www.coindesk.com/bitcoins-bull-run-what-lies-ahead [3] Cointelegraph. (2025). Bitcoin Miners Sell Record 16,000 BTC in a Single Day. [online] Available at: https://cointelegraph.com/news/bitcoin-miners-sell-record-16-000-btc-in-a-single-day [4] Glassnode. (2025). Bitcoin's Institutional Demand and Declining Exchange Reserves. [online] Available at: https://glassnode.com/research/bitcoin-institutional-demand-and-declining-exchange-reserves [5] Skew. (2025). Long-Term Bitcoin Holders Sell Nearly 300,000 BTC. [online] Available at: https://skew.com/bitcoin/derivatives/long-term-holders-sell-nearly-300-000-btc [6] CoinMetrics. (2025). RHODL Ratio Indicates Strong Demand and Return of Retail. [online] Available at: https://coinmetrics.io/rhodl-ratio-indicates-strong-demand-and-return-of-retail/ [7] Woo, W. (2025). Bitcoin Price Forecast: Stability Before a New Direction. [online] Available at: https://willywoo.substack.com/p/bitcoin-price-forecast-stability-before [8] CoinDesk. (2025). MVRV Bollinger Band Predicts Bitcoin Could Reach $127,000. [online] Available at: https://www.coindesk.com/mvrv-bollinger-band-predicts-bitcoin-could-reach-127-000 [9] Ledoux, C. (2025). About Charles Ledoux. [online] Available at: https://charlesledoux.com/about/ [10] Ledoux, C. (2025). Charles Ledoux's Masterclasses and Articles. [online] Available at: https://charlesledoux.com/masterclasses-and-articles/
Attendees of the crypto academy might find this situation intriguing, as the selling pressure on Bitcoin from miners and large holders simultaneously presents a challenge for short-term investors. Nevertheless, long-term confidence remains steady due to robust institutional interest and declining exchange reserves, which are driving a supply shock that could lengthen the bull run in the finance sector, making it a fertile ground for investing in technology.
