BTC at the Limit: When Miners Start 'Opening Their Eyes' to Reality

What has happened in the past 24 hours is not just a normal correction. After Trump announced a plan to increase global taxes by 15%, Bitcoin reacted strongly — dropping from $67,000 to $65,000, with liquidation volume reaching $120 million. Currently, BTC is fluctuating around $64,840, a key level. But the real concerning number lies elsewhere: miners are selling coins.

Bitdeer Dumps 943 BTC: Warning Sign from the Mining Industry

Bitdeer’s move to sell all 943 BTC wasn’t an easy decision. As one of the leading mining companies, such a sell-off reflects the real economic pressures the industry is facing. Recently, mining difficulty surged 14.72% — the largest increase since May 2021. What does this mean? The cost to mine each Bitcoin has increased significantly.

The situation becomes more severe when calculating actual costs. With current prices and difficulty, S19 miners will start losing money if electricity costs exceed $0.06 per kilowatt-hour. In many areas, this threshold has already been surpassed. This explains why miners are forced to sell coins — not because they want to, but because they need cash to survive. When miners start selling, a big question arises: can the bull market continue when this supply has just increased?

Silent Strategic Shift: What Do CFTC Data Reveal?

Data from the CFTC tell a completely different story. The net short positions of smart money institutions are decreasing — these institutional investors are quietly shifting from a selling to a buying strategy. This isn’t the first time we’ve seen this pattern. Before Bitcoin exploded in 2023, ahead of the 70% profit months in 2025, this was exactly the strategy.

Miners sell due to pressure, but smart institutions buy because of opportunity. When these two forces clash, those who see through the developments will have an advantage. This CFTC data represents the most “clear-eyed” players in the market — they see through the current panic to identify long-term potential.

Technical Signals: RSI Bounces from Oversold Level

The Relative Strength Index (RSI) has given an interesting signal. From an oversold level of 6.35, it has rebounded to 60.31 — a strong move. At the same time, the chart is forming a flat bottom pattern, which often occurs before significant jumps.

However, there’s a warning: trading volume is only at 32% of normal. This limited activity can be a double-edged sword. On the positive side, it shows resilience — holders are holding, and sellers are exhausted. On the negative side, it suggests that upward movement will be more difficult without volume support.

From Support Levels to Resistance Targets: What Scenario Will Unfold?

Technical analysis points to two clear paths forward:

Bearish Scenario: If BTC fails to hold the critical support at $64,200, next target is $62,000. This level will force Bitcoin holders to revisit the disappointment of 2022 — a period when the mining industry endured severe stress.

Bullish Scenario: If Bitcoin can hold above $66,500 and break through $67,000, the recent dip could just be a final trap — a market move to shake out weak investors before continuing its upward journey.

Trading Strategies: From Theory to Action

For Sellers (Shorting/Futures Trading):

• Entry Point: Near resistance at $66,550–$66,750 USD, consider opening a small short position
• Stop Loss: If resistance is broken above $67,100, exit immediately
• Take Profit: Watch support levels at $64,000–$64,200 USD, take partial profits accordingly

For Buyers (Accumulation):

• Entry Point: When price clearly holds above key support at $64,200 USD with confirmed increased volume, enter a small position
• Stop Loss: If price drops below $63,800 USD, cut losses decisively
• Take Profit: Target resistance zone at $67,000 USD

In reality, those with “sharp eyes” who can see beyond the current chaos will find opportunities. Miners are selling off, but smart institutions are buying. History always repeats itself with different players.