Bitcoin miner outflows spike in January, but public sales remain limited

Bitcoin miner outflows spike in January, but public sales remain limited

Onchain data shows nearly 49,000 BTC moved from miner wallets in two days, but public disclosures suggest the transfers do not reflect broad capitulation.

Bitcoin miner outflows jumped to 28,605 BTC, worth about $1.8 billion, on Feb. 5, one of the largest single-day transfers since November 2024, as prices swung sharply during a volatile trading session.

Another 20,169 Bitcoin (BTC), worth about $1.4 billion, left miner-linked wallets on Feb. 6, according to data from CryptoQuant. The last comparable spike occurred on Nov. 12, 2024, when outflows reached 30,187 BTC.

The spike coincided with sharp price swings, with BTC trading at about $62,809 on Feb. 5 before rebounding to $70,544 a day later. Large miner wallet transfers during volatile sessions often draw scrutiny because they can signal potential selling pressure. 

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