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Following
BTC Bitcoin once again approached US$63,500 in 24 hours. Both chain data and historical trends suggest the need to be cautious in the short term. Increased Bitcoin inflows on exchanges, accelerated selling by miners and historical performance in August have become the three major signals that analysts pay close attention to. However, some market commentators believe that a potential correction may be to accumulate power for a larger rally.
Why is Bitcoin under pressure?
Cryptocurrency analyst Ali Martinez said that more than 20,000 BTC have been transferred to exchanges in recent days. These transfers are worth approximately US$1.2 billion, while CryptoQuant data shows that the total number of bitcoins on the exchange has increased to 2.72 million BTC. This level is the highest since early July.
Although assets transferred to the exchange do not necessarily mean a sell-off, this indicator is usually closely watched as investors prepare to trade. On the other hand, the recent Coldcard security incident has also sparked speculation that some investors may transfer Bitcoin from their personal wallets to exchanges for security reasons. Therefore, all increases in transfers cannot be regarded as direct selling pressure.
Miners are also selling
The second signal Martinez points to comes from miners. On-line data shows that Bitcoin miners sold approximately 1,774 BTC in the past week. At current prices, these sell-offs are worth about $112 million, indicating that some miners are taking profits.
Miner sell-off itself does not mean that prices will definitely fall, but because it increases market supply, it has become one of the indicators to be closely watched in the short term.
Why is August important to Bitcoin?
Historical data also encourages investors to remain cautious. According to a monthly return table shared by users, Bitcoin has recorded declines in August in 9 out of 13 years since 2013. Although history itself cannot determine the future, August remains one of the weakest periods for Bitcoin.
As shown in the monthly return table below, Bitcoin has ended with a decline in August in 9 of the last 13 years. The worst August declines occurred in 2023 (-11.29%) and 2024 (-8.6%). In 2025, Bitcoin also closed down 6.49% in August. 
Of course, past performance does not mean that it will be repeated in the future. However, analysts believe that the seasonal trend, which coincides with increased Bitcoin inflows on exchanges and miners selling, is one of the short-term risk factors.
Analysts 'forecast for Bitcoin
The market did not form a unified expectation.
Analyst Rekt Fencer believes that a possible "bull market trap" in August may trigger a sharp correction, sending Bitcoin to the US$30,000 level.
Ali Martinez suggested that if the price falls back to around US$60,000, it may technically form a head-and-shoulder pattern, which is expected to push a new round of gains to US$74,000.
Similarly, MikybullCrypto believes that the technical form is basically complete and the next target may be US$80,000.
Conclusion
In the short term, increased BTC inflows on exchanges, miners selling and weak historical performance in August are the three major factors that may put pressure on Bitcoin. However, some analysts believe the potential correction could be part of a larger upward trend. Therefore, investors not only pay attention to price trends, but also pay close attention to chain data and macro dynamics.
This article is based on general market data and does not constitute investment advice. It is recommended that you study on your own.
