Bitcoin miners dump 32K BTC in Q1 – Can bulls absorb supply?
The post Bitcoin miners dump 32K BTC in Q1 – Can bulls absorb supply? appeared on BitcoinEthereumNews.com. As Bitcoin [BTC] pushed toward the $80,500–$81,000 region, miner activity increasingly shaped broader market momentum beneath the surface. Public mining firms distributed nearly 32,000 BTC during Q1 2026 alone. That figure exceeded total liquidations recorded throughout all of 2025. Part of that pressure emerged from tightening post-halving economics across the mining sector. Notably, the Hashprice hovered between $33 and $40 per PH/s per day, remaining near breakeven levels for older mining fleets. As profitability compressed, firms including MARA, Riot, CleanSpark, and Bitdeer increasingly converted reserves into cash. Meanwhile, Glassnode data shows repeated miner distribution near Bitcoin’s highs suggests operators still prioritize liquidity preservation as post-halving profitability pressures remain elevated. Source: Glassnode This implies that the rally is not purely specula