According to Charles Edwards (@caprioleio), the significant reduction in Bitcoin miner selling following a price drop is a highly bullish signal. This trend indicates that miners are holding onto their BTC reserves, implying confidence in future price appreciation and reduced selling pressure in the market. Such behavior often aligns with broader positive market sentiment and could support upward price momentum for Bitcoin (BTC).

According to Michaël van de Poppe (@CryptoMichNL), BTC’s rally to $125K occurred just days before a government shutdown and was followed by a substantial market decline, yet the current drawdown remains comparable to prior bull market corrections (source: @CryptoMichNL on X, Nov 16, 2025). According to Michaël van de Poppe, approximately $60B of fresh ETF-driven liquidity helped propel a new all-time high before the halving, causing this cycle’s time-based performance to diverge from previous cycles (source: @CryptoMichNL on X, Nov 16, 2025). According to Michaël van de Poppe, the supply-demand setup is shifting as annual new supply declines to roughly 150K BTC post-halving while miners sell some coins for expenses and hold a portion, and about 60K BTC has been accumulated by Bitcoin ETFs over the past 18 months (source: @CryptoMichNL on X, Nov 16, 2025). According to Michaël van de Poppe, it is short-sighted to assume a finished 4-year cycle top purely on halving-timing models because market participants, institutional demand, and macro conditions are evolving, with Bitcoin still trading around $100K in a difficult risk-on environment (source: @CryptoMichNL on X, Nov 16, 2025). According to Michaël van de Poppe, traders should track ETF net flows, miner selling pressure, and macro risk appetite to judge whether this remains a standard bull-market correction rather than a confirmed cycle peak (source: @CryptoMichNL on X, Nov 16, 2025).