Miners are dumping their stacks right now and it's basically keeping a lid on prices. I've been watching the on-chain data and there's this pattern every time we get close to a halving event - miners start panic selling because their revenue is about to get cut in half. It's pretty predictable honestly.

The thing about Bitcoin halving is that when it happens, the block reward drops, so miners need to sell more coins just to cover their operating costs. So what do they do? They start liquidating ahead of time to lock in profits while they still can. That selling pressure is one of the biggest headwinds for price action leading up to the actual halving date.

Looking at when the next Bitcoin halving cycle comes around, we'll probably see this same dynamic play out. The supply hitting the market from miners is real and it's something traders need to account for. It's not just about the halving itself - it's about the months leading up to it where miners are essentially front-running their own revenue cut.