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The Bitcoin price drop below $108,000 is driven mainly by record miner liquidations, reduced post‑halving miner revenue and short‑term institutional fund adjustments; on‑chain flows and exchange deposits suggest heightened volatility until selling pressure eases.
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Miners moved roughly 51,000 BTC (~$5.6 billion) to exchanges since October 9, intensifying sell pressure.
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Ether and XRP fell in tandem, with XRP slipping to $2.36 despite Ripple’s $1 billion acquisition of GT Treasury.
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On‑chain data, exchange inflows and lower transaction fees post‑halving explain the immediate decline in miner revenue.
Bitcoin price drop: miners moved ~51,000 BTC (~$5.6B) to exchanges, pushing BTC under $108,000. COINOTAG reports on-chain data, analysis and expert comment.
Published: 2025-10-16 | Updated: 2025-10-16 | Author/Organization: COINOTAG
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What is causing Bitcoin’s price drop below $108,000?
Bitcoin price drop reflects concentrated selling from miners, lower post‑halving revenue and short‑term institutional adjustments. On‑chain data show miners routing roughly 51,000 BTC to exchanges since October 9, which, combined with reduced transaction fee income after the 2024 halving, has amplified downward pressure in cash and derivatives markets.
How are miner liquidations, halving effects and fund adjustments interacting?
Miners face higher operating costs after the 2024 halving cut block rewards in half, while network transaction fees have declined, reducing total miner revenue. According to exchange and on‑chain flow tallies, roughly 51,000 BTC—approximately $5.6 billion at recent prices—was moved from miner wallets to a major exchange since October 9. That volume materially increases available sell liquidity.
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Coincident events magnified market unease. Paxos reported a technical error that briefly showed the accidental minting of a very large amount of stablecoin units and then burned the excess; this incident (reported by industry outlets) raised short‑term trust concerns around stablecoin operations. At the same time, BlackRock adjusted its Select Treasury Liquidity Fund to comply with U.S. stablecoin reserve rules, enabling the fund to act as a reserve asset for stablecoin issuers. In a CNBC interview, Larry Fink, CEO of BlackRock, described tokenization as “a continuing strategic priority” that could reshape asset handling.
These operational headlines, layered on top of the miner sell‑offs and shrinking fee income, produced synchronized price moves across major tokens: Bitcoin slipped below $108,000, Ether traded just above $3,900 and XRP moved down to $2.36. Analysts note that large miner dumps have historically coincided with late‑cycle sell pressure, though timing and magnitude vary across cycles.
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Frequently Asked Questions
How much BTC did miners transfer to exchanges since October 9?
On‑chain flow analysis indicates miners transferred roughly 51,000 BTC to one major exchange since October 9, equivalent to about $5.6 billion at recent prices. This concentration of supply on exchange order books has increased immediate selling pressure and market volatility.
Should I panic sell when Bitcoin drops below $108,000?
No. Decisions should be based on an investment plan and risk tolerance. Market moves driven by concentrated selling—such as miner liquidations—can be temporary; review on‑chain data, fee trends and your portfolio strategy before acting.
Key Takeaways
- Miner liquidations accelerated the decline: Roughly 51,000 BTC moved to exchanges, increasing sell-side supply.
- Post‑halving revenue compression matters: Lower transaction fees and halved block rewards reduced miner income, prompting sales.
- Macro and operational news amplified volatility: Stablecoin operational incidents and institutional fund restructurings added to market uncertainty; monitor on‑chain flows and reserve asset changes.
Conclusion
The recent Bitcoin price drop reflects a confluence of measurable, on‑chain factors—chiefly miner sales—and operational developments in the broader crypto ecosystem. COINOTAG’s review of exchange inflows, miner wallet movements and public statements from industry figures points to increased short‑term volatility rather than a single structural failure. Traders and investors should track miner deposit patterns, transaction fee trends and institutional custody/reserve announcements for signals of relief or extended pressure. For continuing coverage, follow COINOTAG’s updated on‑chain analysis and verified reporting.
Sources (plain text): on‑chain flow analytics, exchange custody data, Cryptopolitan reporting, CNBC interview with Larry Fink, company statements from Paxos and BlackRock.
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Source: https://en.coinotag.com/bitcoin-could-slip-further-after-falling-below-108000-as-miners-move-51000-btc-and-paxos-glitch-heightens-concern/
