Miners dumping on institutions or just custody moves?
MARA: 200 $BTC ($12.8M) → NYDIG
Riot: 381 $BTC ($24.5M) → NYDIG
Either they're preparing to sell OTC through institutional channels, or they're finally professionalizing their treasury management. Either way, this is supply leaving exchanges.
Watch miner balance sheets. If they're moving coins to custody platforms instead of exchanges, it's less immediate sell pressure. But if NYDIG starts distributing to their clients, that's fresh supply hitting the market through the back door.
Miner capitulation watch continues.
MARA: 200 $BTC ($12.8M) → NYDIG
Riot: 381 $BTC ($24.5M) → NYDIG
Either they're preparing to sell OTC through institutional channels, or they're finally professionalizing their treasury management. Either way, this is supply leaving exchanges.
Watch miner balance sheets. If they're moving coins to custody platforms instead of exchanges, it's less immediate sell pressure. But if NYDIG starts distributing to their clients, that's fresh supply hitting the market through the back door.
Miner capitulation watch continues.