Bitcoin Price Prediction: Can BTC Break $86.5K as Miners Sell Off 40%?
Bitcoin trades at $84,139 as hashrate hits 1 sextillion H/s. Miners sold 40% of March BTC output. Will BTC break $86,500?
Quick overview
- Bitcoin's hashrate has reached an all-time high of 1 sextillion hashes per second, reinforcing its status as the most secure blockchain.
- Miners are facing financial stress due to a halving event that reduced block rewards and a significant drop in mining revenue.
- Publicly listed miners sold over 40% of their March Bitcoin production, indicating a shift to cash preservation amid tight margins.
- Bitcoin's price is at a critical juncture, with potential breakout or breakdown scenarios depending on market volume and miner activity.
Bitcoin’s hashrate has reached an all-time high of 1 sextillion hashes per second, according to BitInfoCharts. Who would have thought that 10 years ago? This further solidifies Bitcoin’s reputation as the most secure blockchain in the world.
But behind the numbers, miners are stressed.
The April 2025 halving cut block rewards from 6.25 BTC to 3.125 BTC. And even before that, mining profitability was declining. March mining revenue dropped 50% to $1.2 billion, according to Newhedge.
Miners now have two main revenue streams:
- Block rewards – now halved
- Transaction fees – still low due to low congestion
That double squeeze—lower revenue and unchanged operational costs—is hitting balance sheets across the industry.
Public Miners Dump 40% of BTC Output
Facing tight margins, publicly listed miners sold more than 40% of their March Bitcoin production, the highest sell-off rate since October 2024, according to TheMinerMag.
Notable moves:
- HIVE, Bitfarms and Ionic Digital sold more than 100% of their output—tapping into reserves.
- CleanSpark is adjusting its treasury strategy to hedge against price volatility.
- This wave of selling means cash preservation mode, a short-term headwind if miners continue to sell BTC aggressively.
- Miner selling often correlates with short-term price weakness—watch on-chain flows and treasury reports.
BTC Price Outlook: Breakout or Breakdown?
Bitcoin is trading at $84,139, consolidating just above the 50-period SMA and support at $83,200. Price action is tightening inside a descending triangle, with major resistance at $86,500.
The RSI is 50.4, neutral momentum. It could go either way—breakout or breakdown—depending on volume and macro sentiment.
Trade Setup: Triangle Break Could Unleash Bulls
If price breaks below $83K: We’ll see $80,569.
If price breaks above $86,500: We could see a big move fueled by short liquidations, to:
- $88,768
- $91,128
Bitcoin Trade Idea (Short-Term Swing):
- Entry: Buy above $86,500 (confirmed breakout with volume)
- Target: $88,768 – $91,128
- Stop Loss: Below $83,000
Pro Tip: Don’t front run the move. Wait for a full candle close and high volume above resistance before entering. Triangle breakouts often fool traders without confirmation.
Conclusion: Watch the Miners, Watch the Volume
Bitcoin has never been more secure—but mining economics are under stress. With 40% of production being sold and miners in cash preservation mode, the short-term is all about whether demand can absorb that sell-side flow. From a technical perspective, BTC is at a crossroads. The triangle is tightening, the breakout is near—and what the miners do next will dictate the price action for weeks.
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