As we reported at Kriptokoin.com , the Bitcoin price continues to trade just below the critical $100,000 level. Miners have begun to reduce their Bitcoin holdings in recent weeks. Currently, Bitcoin is trading at $98,535. This shows that miners are turning to sales due to increasing costs and profit-taking pressure. However, market analysts state that the potential for the price to rise is still strong.
Bitcoin Miners’ Sales Are Increasing
According to CryptoQuant data, the total reserves in Bitcoin miners’ wallets have fallen to 1.81 million BTC , the lowest level since the beginning of the year. Miners are releasing their coins into the market either for profit or to cover rising operating costs.

In addition, miner net flow data also confirms the daily selling trend. Currently, this indicator is at -1,172 BTC. This shows that miners are selling more coins than they are buying. Miner sales usually create short-term downward pressure on the price. It also appears as a negative signal for the market.
Price Expectations for Bitcoin
Although miners’ sales continue to put pressure on the price, Bitcoin’s outlook is still positive. One of the technical indicators, the Parabolic SAR, supports Bitcoin’s uptrend. The positioning of the Parabolic SAR dots below the price indicates a bullish signal . This means it’s time for investors to enter long positions and exit short positions.

If this uptrend continues, Bitcoin will first reach a new all-time high of $99,860, and then the psychologically important $100,000 level. However, this uptrend will weaken if investors turn to profit-taking. In such a scenario, Bitcoin price could pull back to $88,986.
Supply Constraints and Long-Term Prospects
Georgii Verbitskii, founder of the TYMIO platform, predicts that the Bitcoin price could reach $180,000 by the end of 2025. Verbitskii predicts that the price will be between $100,000 and $120,000 by the end of 2024. However, he emphasizes that it will take time to reach these levels and that investors should carefully manage their risks .
Verbitskii notes that the decreasing supply of Bitcoin will play a critical role in this rise. The block reward halving in April 2024 will further limit the supply of coins in the market. In addition, forgotten wallets and lost coins further restrict the available supply. Increasing demand and limited supply could put significant upward pressure on the price.
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