3 Things to Watch in Ripple (XRP) Price This Week: Analysis
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CryptoPotato1 min read
New Bitcoin Lows? Analysts Say Chances Are ‘Extremely Slim’
TL;DR
Binance pool miner reserves decreased slightly, indicating ongoing selling pressure from miners. Analysts suggest that long-term holders now control over 70% of Bitcoin supply, which may signal a potential market upturn.
Key points
- Binance pool miner reserves fell from 41,987 to 41,915
- Over 70% of Bitcoin is held by long-term investors
- Miner Position Index is below panic-selling levels
- Puell Multiple is under one
- Long-term holders are in an accumulation zone
Mentioned in this story
Binance
Binance pool miner reserves slipped from 41,987 to 41,915 in May, a small but telling sign that selling pressure from miners has not fully stopped. Crypto analysts said that because Binance Pool controls a major share of global hash rate, its behavior tends to reflect how Bitcoin miners feel before the broader market catches on.
The Miner Position Index remains below historical panic-selling levels, and the Puell Multiple — a gauge of miner revenue relative to long-term averages — is still under one. Analysts described the current miner behavior as a “wait phase,” a pattern that has appeared near cycle bottoms before.
Long-Term Holders Take Over The Supply Side
More than 70% of all circulating Bitcoin is now sitting in the hands of investors who have held for at least a year. That figure crossed back above 15 million BTC for the first time since October 2025, according to data from CryptoQuant.
🚨 $BTC Long Term Holders Just Flashed The Signal That Preceded Every Major Expansion Phase Since 2012.#Bitcoin The 1Y+ Long Term Holder metric has now dropped back into the historical “oversold” accumulation zone, a region that previously appeared before explosive upside… pic.twitter.com/9ZHwKFJRm9
— CryptoZeno (@CrypZeno) May 20, 2026
Analyst CryptoZeno said the one-year-plus holder metric has returned to a zone that, in past cycles, came just before major price climbs. Based on reports citing CryptoZeno’s analysis, similar readings appeared ahead of upside moves in 2013, 2016, 2019, and late 2022. When these holders are buying instead of selling, available supply tightens — and historically, that has not been a good time to bet on lower prices.
Q&A
What does the decrease in Binance pool miner reserves indicate?
The decrease suggests that selling pressure from miners has not fully stopped, reflecting their sentiment before broader market reactions.
How much Bitcoin is held by long-term investors?
Over 70% of circulating Bitcoin is now held by investors who have held for at least a year, surpassing 15 million BTC.
What is the significance of the Miner Position Index and Puell Multiple?
Both indicators remain below historical panic-selling levels, suggesting that miners are in a 'wait phase' typical of market cycle bottoms.
What does the current behavior of long-term holders suggest for Bitcoin's future?
The behavior indicates a potential accumulation phase, which has historically preceded major expansion phases in Bitcoin's price.
