60K BTC Sinks But Miners Sell: Can BTC Rally Continue?

Bitcoin (BTC)'s early January rally is playing out against a backdrop of mixed onchain data, with strong rallying demand clashing with renewed mining distribution.

Main Receptors:

Bitcoin accumulator addresses surged to 60,000 BTC in six days, ending a multi-month consolidation phase.

Miners sent about 33,000 BTC in exchanges at the beginning of January, which indicates a decrease in long-term holdings.

The broader market impact is on whether demand for space can permanently outpace new sell-side supply.

When the price increases, the addresses of the Bitcoin reserves are entered.

Bitcoin accumulator addresses increased their holdings to 310,000 BTC from 249,000 BTC in the first six days of January, according to CryptoQuant data. This marks a significant reversal after a period of consolidation from September to December 2025, when holdings fluctuated from 200,000 to 230,000 BTC.

The timing is familiar. The stock accelerated alongside bitcoin's return to the low-$90,000 region, suggesting long-term participants are willing to absorb the available supply rather than wait for deeper pullbacks.

Miners Reduce Exposure: Can It Stop the Rally?

At the same time, the Bitcoin network saw 33,000 BTC move from mining wallets to Binance in the first six days of 2026, which is a relatively high number of mining flows.

According to a QuickTake post on CryptoQuant, this behavior suggests that miners are choosing to avoid risk after the recent price rally, which occurs during the uncertain period following the rally.

Still, such selling pressure does not directly indicate a sharp correction from miners alone. What matters is that compensating demand remains strong enough to absorb this supply without forcing a price drop.

Related: Bitcoin liquidity data points to an ‘absurd' potential rally to $100K: analyst

BTC net exchange rate, a hint of stability

Market data leans toward a steady recovery. Binance's seven-day net seeker flow sentiment recorded heavy net selling in November, averaging $2.3 billion per day, coinciding with Bitcoin's drop to $84,000. December marked a transition phase and by the end of 2025 sales pressure had faded. January has now recorded seven consecutive days of modest but consistent net purchases, averaging $410 million.

While the buying pressure is modest, it is significant after the sell-off period. The shift is in line with the Bitcoin Unified Sentiment Index, which returned to neutral territory for the first time since November, indicating that optimism has stalled but fear has eased, said Bitcoin researcher Axel Adler Jr.

These signs suggest that Bitcoin's rally may not be overheated, but its sustainability depends on whether steady accumulation offsets the mining spread in the coming weeks.

Related: Bitcoin ETFs come into the year ‘like a lion': 600% rising at the current rate

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