比特币的积累地址吸收了 6.7 万枚比特币，而矿工主导的抛售行为有所减少：数据表明

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Bitcoin (BTC) demand from long-term holders increased by 48.5% over the past seven days. This rise in accumulation coincided with a sharp decline in Bitcoin miners’ selling activity, as the Miners’ Position Index (MPI) dropped to levels last seen in 2024.

The development highlights a phase where long-term participants are steadily absorbing Bitcoin, while selling from the miners continues to decrease.

Bitcoin accumulators expand as miner outflows cool down

CryptoQuant data shows that the demand from accumulator addresses lifted holdings to roughly 205,000 BTC on March 30 from 138,000 BTC on March 23. The increase follows a drawdown from a March peak near 210,000 BTC, marking a renewed phase of demand from long-term participants.

The BTC accumulation increased during the recent price decline, indicating an active absorption of available supply.

At the same time, Bitcoin miners' behavior has shifted. Crypto analyst Nino highlighted that the Miners’ Position Index (MPI) 30-day moving average has dropped to -1.042, a level last seen in 2024 lows.

MPI measures the ratio of total miner outflow to its one-year average. Lower values imply reduced selling relative to historical norms. This indicates fewer coins are entering circulation from miners, easing immediate sell-side pressure.

The rising accumulator balances and lower miner selling reduce the amount of Bitcoin entering the market. This points to a phase where long-term holders are buying while miners are selling less.

Related: Bitcoin hashrate falls after Iran conflict, HOOD down 16%: Month in charts

BTC exchange flows signal fading demand

The short-term positioning on exchanges exhibits a different pattern. Binance’s seven-day net taker flow slipped to negative $1.2 billion on Monday, aligning with the recent downside pressure. Earlier in March, the same metric recorded a positive $3.28 billion flow on March 15. The reversal highlights an increase in aggressive sell pressure across derivatives markets.

The sentiment data reinforces this shift. The Bitcoin Unified Sentiment Index sits below the -50 threshold at -62.9%, compared with a near-neutral reading of -2.42 on March 15. The index combines derivatives positioning, volatility and volume signals to gauge directional bias. A reading below zero points to sustained sell-side dominance over recent sessions.

Even with the selling pressure visible on exchanges, the sentiment index moving back toward neutral territory marks a change from earlier extremes. Fear has eased while conviction on both sides stays limited, leaving the activity closely tied to liquidity flows around the current range between $75,000 and $60,000.

Related: Six straight months of losses? Five things to know in Bitcoin this week
source: +https://www.tradingview.com/news/cointelegraph:62d22be96094b:0-bitcoin-accumulation-addresses-absorb-67k-btc-as-miner-led-selling-falls-data/