Bitcoin Miners Sell Record 32K BTC in Q1 2026 Amid Hashprice Pressure

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 days ago

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Record Sales by Miners: Public Bitcoin miners sold over 32,000 BTC in Q1 2026, setting a new quarterly record that surpasses total sales for all of 2025, indicating increasing market pressures.
Rising Operational Losses: With hashprice hovering around $33 per PH/s per day, below the $35 breakeven point, approximately 20% of miners are now operating at a loss, forcing them to liquidate Bitcoin holdings to sustain operations.
Diverging Strategies: While many miners opt to sell to address financial pressures, American Bitcoin, Hut 8's mining arm, has chosen to accumulate Bitcoin, holding over 7,000 BTC, reflecting differing strategic responses to market conditions.
Power Cost Advantage: New West Data utilizes flared gas for power, paying under $0.02 per kWh, allowing it to remain profitable even at current hashprice levels, showcasing potential for survival in a competitive market.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 3 indicators are flashing buy, while 1 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	62625.961	66565.92	70453.081	74393.04	78280.201	82220.16	86107.321
Fibonacci	66565.92	69555.88	71403.08	74393.04	77383	79230.2	82220.16

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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