Since the beginning of March, the cost of bitcoin has decreased by only 2.3%. The stagnation of the BTC exchange rate is due to two factors: stability in the field of BTC-ETFs and the sale of digital assets by miners. The capitalization level of bitcoin ETFs issued in the United States has fluctuated in a narrow range since March 10 due to the balance between capital inflows and outflows. The growth of the bitcoin exchange rate is being held back by cryptocurrency miners, who are forced to sell digital assets to cover expenses. Public enterprises engaged in bitcoin mining stopped accumulating coins back in January 2025 and began selling them. In March, they sold 42.36% of the mined BTC on the market, which is the highest figure since September 2024. The issuers of ETFs and other companies that have acquired bitcoins are preventing the BTC exchange rate from falling by holding the coins. At the same time, miners are putting pressure on the price of cryptocurrencies by selling coins and thus satisfying the existing demand. As long as these opposing trends balance each other out, the bitcoin market is likely to remain stable. At the moment, bitcoin is trading at $84,806.
