Bitcoin miners hold BTC, easing exchange supply pressure near $74,000

Miners hold coins as selling pressure eases. Bitcoin stabilizes near $74,000.

CryptoQuant shows the Miners’ Position Index around -0.83. Miners are not sending coins to exchanges. Structural sell flow is lighter source.

History matters. MPI spikes above 2 have aligned with selloffs and price corrections. The index now sits low and steady, not spiking. That pattern suggests distribution paused source.

Price retests $74k–$75k after a February flush into the low $60k range. Higher lows have formed since. The area is a confluence: former support turned resistance, just under a falling 100‑day MA. The 50‑day MA slopes up below price; the 200‑day sits higher. Volume hasn’t expanded like the February capitulation.

Key near-term levels:
- A clean hold above $75,000 opens room toward $80,000
- A rejection keeps the $68,000–$75,000 range intact

For now, the miner-driven pressure that marked prior dips is absent. That removes a common downside trigger, but doesn’t ensure upside persistence source.