Bitcoin Recovers From $100K Dip While On-Chain Data Shows Rising Miner Activity

Bitcoin is recovering from a price dip caused by market reactions to tensions between Trump and Musk. The price had fallen to nearly $100,000 but has since rebounded to around $104,891. Miner activity is now influencing Bitcoin's near-term outlook, with increased BTC transfers to exchanges. Miner-to-exchange inflows have exceeded $1 billion per day, potentially indicating increased selling pressure. These large transfers by miners, key liquidity providers, are often seen as preparations to sell BTC. Historically, such spikes have preceded periods of downward price pressure in fragile markets. Analysts suggest that monitoring miner inflows can aid in risk management and trading decisions. However, the Hash Ribbons indicator is also flashing a buy signal, suggesting a potential long-term opportunity. This indicator suggests that miners have undergone capitulation and are now stabilizing. Historically, this signal has aligned with favorable long-term entry points, indicating a potential for future rallies after the short-term selling pressure subsides.