Analysis: The realized BTC miner inflow to exchanges reached a historical peak on August 13th, signaling potential selling pressure on the platform.

On September 13th, CryptoOnchain announced on social media that the Realized Miner Inflows of Bitcoin reached a historical high of $1.87 billion on August 13th, 2025, which marked the largest-scale miner HODLer value transfer in the history of Bitcoin. There are two possible explanations: · Miner capitulation under pressure: Operating costs and the increase in network difficulty may force miners to sell. Historically, this has coincided with such phases at the bottom of the market cycle. · Strategic profit-taking: Some miners may be locking in significant profits at local highs in anticipation of a potential pullback. Regardless of the reason, the sharp increase in realized inflows highlights the scale of the miner value transfer to exchanges. This could lead to significant supply-side pressure, potentially dampening upward momentum and increasing the likelihood of heightened market volatility.