Bitcoin Miners Withdraw 36K BTC as Bullish Signals Grow

More than 36,000 BTC left the exchange this month as miners shifted their holdings to the cold zone, pointing to bullish expectations ahead.

Bitcoin miners have moved more than 36,000 BTC from trading since the beginning of February.

The volume stands out when compared to previous months and indicates a change in the way they handle their things.

Mining in February

A CryptoQuant report shows that about 36,000 BTC were transferred from trading platforms within a short period of time this month. Of that total, more than 12,000 BTC were withdrawn from Binance, while the remaining 24,000 BTC were distributed to several other countries. This indicates that activity has occurred widely across the market, rather than being linked to a single exchange or a single transaction.

This type of activity is usually associated with long-term storage because miners usually move BTC to cold wallets instead of leaving their holdings on exchanges. Such transfers can also mean confidence in future price growth, as low exchange rates reduce the amount of BTC readily available for sale on the local market.

CryptoQuant also noted that daily withdrawals accelerated during that period. In just one day, more than 6,000 BTC were removed from the exchange, marking the highest single-day amount since last November. Compared to January, withdrawal rates in February are significantly higher, which contributes to the perception that miners are continuously changing.

At the same time, miners are not the only group showing continued faith in the OG cryptocurrency. The data shows that long-term holders have accumulated 380,104 BTC in the past 30 days, indicating continued demand from that segment of the market.

Market Outlook

The opening weeks of February gave way to BTC, with its price dropping close to $60,000 at one point. Data from CoinGecko shows that over the past 24 hours, the cryptocurrency has gone from slightly above $67,000 to below $70,000, while posting a drop of more than 28% over the past month.

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However, VanEck analysts describe the 2026 decline as “an orderly move” rather than a sudden collapse. Head of Digital Asset Research Mathew Sigel previously explained that this is because futures open interest has fallen by around 20%, suggesting that high positions are being reduced in a controlled manner rather than panic-induced exposure.

February’s performance was shaped by institutional liquidity, macroeconomic pressures, and tax-related factors. The Spot Bitcoin ETF’s outflows now outpace inflows, suggesting profit-taking or a shift to defensive assets like gold. The Federal Reserve has also kept rates close to 3.75% amid 2.4% inflation, while the newly introduced Internal Revenue Service 1099-DA form adds compliance pressure to investors.