Bitcoin Warning Signs: Miner & Long-Term Holder Sell-Off Suggests Key Distribution Phase May Be Underway

On-chain data reveals a dramatic structural shift: Bitcoin miner outflows surged over 560% weekly, while a significant volume of “aged coins” (18-24 months) flooded into exchanges. This pattern typically signals a market distribution phase, where early accumulators may be taking profits. A concerning divergence exists as leveraged longs rise despite plummeting spot liquidity, heightening downside risk.

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