#BitcoinMiners Riot emptied 79% of its treasury, but BTC is still above $80K. Why didn't the selling break the price?
📌 The actual numbers (Riot Q3 2026 report, November 4):
• 10,599 BTC sold in Q3 (~$751.5M) = 6.5 times production; treasury fell from 11,380 to 2,418 BTC
• First 9 months of 2026: 20,264 BTC / ~$1.5B in sales; there were 18,005 BTC at the start of the year
• Production cost including depreciation: ~$78,805; Q3 average selling price: $70,855 (247 Wall St)
• Hut 8 has also sold 3,102 BTC since July and completed a $250M buyback
📈 Reading the data (Binance BTCUSDT, November 5, 06:22 UTC):
• Price $80,579 (+3.45% in 24h), 24h range $77,770-$81,196
• SMA20 $78,237, EMA12 $79,199, RSI(4H) 77 = short-term overbought
• Resistance $81,200 / $82,000; support $78,200, then $75,700 below that (November 4 low)
🐋 Evidence from flows: After ~$1.16B in ETF outflows over 3 days, spot BTC ETFs recorded +$74.6M in net inflows on November 4 (FBTC +$236.7M, IBIT -$201.2M). In other words, the 10.6K BTC in miner supply and ETF selling were absorbed in the same week.
🎯 Plan: The structural trend is up, but I wouldn't chase at RSI 77. A pullback to $78.2-78.5K is a buying opportunity; stop below $75.7K; first target $81.2K, then $82K. A daily close above $82K confirms the trend; below $78.2K invalidates the plan.
📌 Do you think BTC will test $82K or $76K first if miner selling ends?
#BitcoinMiners #Bitcoin #BTC $BTC #ETF
Not financial advice.
📌 The actual numbers (Riot Q3 2026 report, November 4):
• 10,599 BTC sold in Q3 (~$751.5M) = 6.5 times production; treasury fell from 11,380 to 2,418 BTC
• First 9 months of 2026: 20,264 BTC / ~$1.5B in sales; there were 18,005 BTC at the start of the year
• Production cost including depreciation: ~$78,805; Q3 average selling price: $70,855 (247 Wall St)
• Hut 8 has also sold 3,102 BTC since July and completed a $250M buyback
📈 Reading the data (Binance BTCUSDT, November 5, 06:22 UTC):
• Price $80,579 (+3.45% in 24h), 24h range $77,770-$81,196
• SMA20 $78,237, EMA12 $79,199, RSI(4H) 77 = short-term overbought
• Resistance $81,200 / $82,000; support $78,200, then $75,700 below that (November 4 low)
🐋 Evidence from flows: After ~$1.16B in ETF outflows over 3 days, spot BTC ETFs recorded +$74.6M in net inflows on November 4 (FBTC +$236.7M, IBIT -$201.2M). In other words, the 10.6K BTC in miner supply and ETF selling were absorbed in the same week.
🎯 Plan: The structural trend is up, but I wouldn't chase at RSI 77. A pullback to $78.2-78.5K is a buying opportunity; stop below $75.7K; first target $81.2K, then $82K. A daily close above $82K confirms the trend; below $78.2K invalidates the plan.
📌 Do you think BTC will test $82K or $76K first if miner selling ends?
#BitcoinMiners #Bitcoin #BTC $BTC #ETF
Not financial advice.
