@w3cmx
⛏️Bitcoin miners are in deep accumulation mode.
Since January 2026, miner net pressure has been consistently negative — they're holding more than they're selling.
Holding period normalized after the January spike (~110 days). No structural selling pressure from the largest forced sellers in the market.
Built a dashboard tracking this via UTXO analysis on Dune:
• Weekly mined vs spent
• Net pressure
• Cumulative pressure
• Average holding period
Full story 👇
https://dune.com/w3cmx/bitcoin-miner-flows-accumulation-vs-distribution
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