In short, bitcoin miners are betting big on the future of the cryptocurrency. They are not dumping their assets, even when prices cross the $100k mark. This new behavior suggests a departure from the normal market reaction, wherein price rises would usually encourage more sell pressure as miners cash in.

Miners are definitely holding Bitcoin, not selling. They expect the price to increase even more, so they’re holding sales to cash out in the short term. Miners are indicating a strong desire to HODL their Bitcoin. This is just evidence of their bullish behavior, because they expect the price of Bitcoin to go up.

In the past, during Bitcoin price bull runs, miners have been incentivized to sell out their positions therefore “cashing-in” on the boom price. Yet today’s dynamic shows that there has been a remarkable shift in this trend. Even with Bitcoin over $100,000, miners effectually are not selling.

Even large, existing mining players are showing long-term bullish sentiment. BTC.com Mining Pool is routing 98% of Bitcoin miner flows to Binance. This strategic chess play is in line with the goal of holding their assets together, rather than a fragmented strategy of selling them to different exchanges.

In short, when miners decide to horde their BTC instead of selling it on the open market, it’s a sign that they’re optimistic about Bitcoin’s future growth. By not selling during the price surge, miners are betting on continued appreciation and positioning themselves to benefit from future gains.

This behavior is indicative of a broader growing confidence in Bitcoin’s long-term value proposition. This is because miners provide a public good by validating transactions and maintaining the network. They are betting on their conviction that Bitcoin’s upward price movement is here to stay.