Bitcoin Miner Reserve Continues Slow Decline, Suggesting Bitcoin's Near-term Price Consolidation

BlockBeats News, May 22, CryptoQuant's latest data shows that Bitcoin miner reserves continue to decline to around 41,915 BTC. Supply is still flowing into the market, but the Miner's Position Index (MPI) is at a bearish level (about -0.26), indicating limited selling pressure from miners and no signs of panic selling.

Analyst PelinayPA pointed out that the current mild supply pressure suggests that Bitcoin is likely to remain in a consolidation phase in the short term rather than experiencing a rapid rebound. The cautious attitude of miners implies that the real market bottom may still need more time to confirm, and investors need to be alert to the continuation of a choppy market.