When the Bitcoin price is falling, miners switch to accumulation.

The price of Bitcoin (BTC) continues to draw investors' attention with its recent sharp declines. Since reaching its peak in October, Bitcoin has experienced a significant decline, and in recent weeks, miners' more strategic behavior may lead to a potential stabilization process. CryptoQuant analysts report that this shift in miners' behavior signals a structural relief despite the downtrend.

Bitcoin price has dropped from $119,771 in mid-October to the $94,000 range. However, during this process, it has been observed that miners preferred to accumulate instead of panic selling. Throughout October, miners maintained an average of 843 Bitcoin in net positions. However, when the price fell below the $110,000 level at the beginning of November, this position quickly turned negative.

Specifically, it is noted that between November 7-17, miners were on average 831 Bitcoin in the negative. This indicates that miners reduced the need for sales by making planned adjustments while prices were falling. According to data from the last thirty days, miners only made sales on 11 days while accumulating for 19 days. In total, 6,048 Bitcoin were sold compared to 6,467 Bitcoin purchased.

CryptoQuant analysts highlight a net accumulation of 777 Bitcoin over the last seven days. Despite the 12.6% loss in Bitcoin's price over the past thirty days, the transition to a positive position for miners re-evaluates this process as a positive development. As of November 17, the 30-day net position turning to 419 Bitcoin in the positive indicates that weaker miners have largely completed their forced sales.

According to the CryptoQuant analyst, such transitional periods are often observed just before price bottoms form in the past. Therefore, the return of miners to accumulation suggests that a possible stabilization process for the bleeding market is approaching. Investors should closely monitor these developments and consider the indications for the future of the market.