Last week the BTC price basically didn’t move and traded sideways between 63,000 and 65,000.
But I looked into what happened under the hood at the end of last week, and there was one thing that I found quite interesting—Bitcoin miners quietly transformed themselves into AI computing providers over the past week, and the underlying infrastructure of Bitcoin mining and AI data centers has started to converge.
What does this mean for ordinary holders?
Miners are one of the biggest ongoing sellers of BTC—every day they mine new BTC and need to sell a portion of it to pay for electricity and operating costs. If miners start earning more revenue from AI data centers, their reliance on selling BTC will decrease—so the sell-pressure structure is changing.
At the same time, BTC’s 200-day moving average continues to rise, and the long-term bull-market structure remains intact. On-chain data shows long-term holders are steadily accumulating, exchange BTC balances are falling, and the floating supply of stablecoins is increasing—these three signals stacked together suggest that over-the-counter capital is building up, waiting for the next entry opportunity.
Sideways trading doesn’t mean nothing happened. Sometimes it’s the structural changes that occur during consolidation that become the real underlying logic for the next wave of the market.
I think the miners’ shift to AI is one of those changes worth recording.
Is anyone on the forum paying attention to how miner developments affect BTC’s supply structure? Share your thoughts.
$BTC
#BTC
But I looked into what happened under the hood at the end of last week, and there was one thing that I found quite interesting—Bitcoin miners quietly transformed themselves into AI computing providers over the past week, and the underlying infrastructure of Bitcoin mining and AI data centers has started to converge.
What does this mean for ordinary holders?
Miners are one of the biggest ongoing sellers of BTC—every day they mine new BTC and need to sell a portion of it to pay for electricity and operating costs. If miners start earning more revenue from AI data centers, their reliance on selling BTC will decrease—so the sell-pressure structure is changing.
At the same time, BTC’s 200-day moving average continues to rise, and the long-term bull-market structure remains intact. On-chain data shows long-term holders are steadily accumulating, exchange BTC balances are falling, and the floating supply of stablecoins is increasing—these three signals stacked together suggest that over-the-counter capital is building up, waiting for the next entry opportunity.
Sideways trading doesn’t mean nothing happened. Sometimes it’s the structural changes that occur during consolidation that become the real underlying logic for the next wave of the market.
I think the miners’ shift to AI is one of those changes worth recording.
Is anyone on the forum paying attention to how miner developments affect BTC’s supply structure? Share your thoughts.
$BTC
#BTC
