According to Odaily Planet Daily, CryptoOnchain published an article stating that the value of Bitcoin (realized miner inflows) flowing into the trading platform reached a historical peak of $1.87 billion on August 13, 2025. This is the largest transfer of Bitcoin value by miners in history. There are two possible explanations:

Miner capitulation under pressure: Rising operating costs and network difficulty may force miners to sell, and historically such phases often coincide with cycle bottoms;

Strategic profit taking: Some miners may lock in substantial profits at local highs in preparation for a potential pullback.

Regardless of the cause, the surge in realized inflows highlights the scale of value transfer from miners to exchanges. This could create significant supply-side resistance, potentially suppressing upward momentum and increasing the likelihood of escalating market volatility.