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BTC Miners transfer nearly 20,000 bitcoins to Binance
Recently, the inflow of bitcoin miners to Binance reached 19,866 BTC, which is the closest to the level of 20,000 BTC since a peak of more than 25,000 BTC in late August. At the same time, Glassnode data shows that investors holding the original cryptocurrency are taking profits, making profits of more than $5 billion so far.
According to data provided by CryptoQuant analyst Amr Taha, the inflow of bitcoin miners to Binance on September 21 was recorded as 19,866 BTC, very close to the level of 20,000 BTC. This figure last appeared on August 25, when the number exceeded 25,000 BTC.
Some miners tend to sell part of their positions to pay for electricity bills, mining hardware maintenance costs, labor costs, taxes, debt services and other operating expenses. Rising prices may also mean it is easier to make money from mining and invest in mining equipment.
However, Taha views the latest reading as a test of price resilience rather than an independent bearish signal. Considering that most miners 'inflows to exchanges since 2024 have been around or above 20,000 BTC, this has not been accompanied by an immediate sharp decline in Bitcoin prices. "The high inflow of miners alone is not enough to overwhelm the market." The analyst wrote.
But at the same time, another phenomenon is also occurring. Glassnode reports that despite the current relatively low amount, BTC holders are making profits. According to the analyst firm, net realized profit over the past seven days reached $5.1 billion, a level similar to the end of 2023 rather than the peak of major markets.
The combination of the two may test BTC's resilience as it attempts to escape the callback. Previously, BTC once exceeded the US$87,000 mark (the first time since January this year), and then fell back below US$84,000.
Bitcoin prices fall, ETF demand grows
According to CoinGecko data, as of the time of writing, BTC was trading at approximately US$83,500, down 3% from yesterday, but the weekly increase reached 10%, and the monthly increase was 5%. Still, the asset has shrunk 25% in value from a year ago and is down 33% from its all-time high in October 2025.
At the same time, spot Bitcoin ETFs continue to show an upward trend. The ETF recorded a net inflow of US$999 million on the day miners 'inflows surged; it then recorded a net inflow of nearly US$715 million on September 22, and a net inflow of nearly US$347 million the next day. Total capital inflows into these funds so far this month have reached $2.37 billion, according to SoSoValue.
