Bitcoin Slips Below $76.5K as Miner Selling Picks Up — More Downside Ahead?

The Bitcoin (BTC) price

However, the metric is not in a deep undervaluation zone either, meaning it does not signal a strong accumulation phase or cycle bottom. Instead, it points to a neutral market condition where selling is opportunistic rather than forced. When combined with the rising MPI, the data suggest that miners are strategically distributing strength, rather than capitulating and potentially capping upside momentum in the near term.

Conclusion

Bitcoin is currently at a decisive level, with the price testing the $78,000 resistance amid conflicting signals from market data. While rising open interest and negative funding rates create conditions for a potential breakout and short squeeze toward $82,000–$84,000, increasing miner distribution introduces supply that could limit upside.

Unless the BTC price secures a strong breakout above resistance with volume confirmation, the current move risks turning into another rejection, with downside targets around $72,000–$74,000. For now, the setup remains balanced—but the next move will likely be decisive.

Trust with CoinPedia:

CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.

Investment Disclaimer:

All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.