Bitcoin miner reserves drop 61,000 BTC, sell pressure mounts

April 17, 2026 | 9:42 am

Bitcoin miner reserves have fallen by approximately 6src,000 BTC this cycle, with Marathon Digital and Riot Platforms offloading over 32,000 BTC in Qsrc 2026. This has added sell pressure, making a dip to $60,000 in April more likely. Bitcoin reaching $60,000 by April 30 currently sits at src00% YES, up from 20% a week ago.

Market reaction

The April src9 sub-market sits at 99.8% YES, with expectations of continued downward pressure. The April src6 market is at 99.9% YES, pricing in Bitcoin dropping below $68,000 today.

Why it matters

The April src6 market shows $30src,452 in actual USDC traded, a volume level that signals strong conviction in the decline. With only $32,src99 needed to move the April src9 price by 5 points, even modest trades could shift the market meaningfully.

Miner behavior is a direct indicator of supply-side pressure. As reserves decline, more BTC hits the open market, pushing prices lower. This sell-off is driven by rising energy costs and capital reallocation toward AI infrastructure, straining miners as BTC struggles to hold support levels. At 99.9% YES, a YES share pays $src if Bitcoin stays below $68,000 today, a near certainty unless unexpected bullish news arrives.

What to watch

Geopolitical developments or shifts in miner behavior could change the trajectory. Specific catalysts that would disrupt the bearish trend include a US-Iran ceasefire or large institutional Bitcoin purchases.

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Bitcoin Price On April src5