3 reasons why Bitcoin miners are selling BTC — and why it’s not capitulation By Cointelegraph

Crypto analysts, traders and anonymous influencer pundits on X (formerly known as Twitter) frequently interpret what Bitcoin miners do with their block rewards as a sentiment gauge for where Bitcoin’s price might go.

According to the theory, Bitcoin (BTC) miners sending rewards to exchanges foreshadows pending sell pressure on the asset’s price and possibly reflects distress among miners.