Simply Bitcoin We finally found the REAL Reason Bitcoin isn't going up... | EP 1469
Mar 27, 2026
They dig into who is actually selling Bitcoin right now and why public miners might be the main source of sell pressure. They examine Marathon’s big repurchase and large BTC sales used to pay down debt. They parse Michael Saylor’s tweet about buying more than others sell and whether big buyers are stabilizing price. They also cover miners pivoting to AI and shifting macro forces since 2025.
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Public Miners Selling To Fund AI Pivots
- Public Bitcoin miners are a major source of 2026 sell pressure as they sell BTC to raise cash for AI pivots.
- Marathon sold 15,133 BTC for ~$1.1B and explicitly said proceeds will fund note repurchases and AI transitions.
Institutional Adoption Changed The Cycle
- Structural changes since 2024 affect cycle dynamics: governments, banks, and sovereign funds are increasingly embracing Bitcoin.
- 2025 opened institutional access and shifted the debate from 'own or not' to 'how much exposure to take'.
Sideways Price Means Supply And Demand Are Balanced
- Bitcoin's sideways price near $70k reflects rough equilibrium: miner selling roughly equals buyer demand.
- Host argues Saylor's buys plus other silent buyers (OTC/TWAP) are absorbing miner supply, keeping price stable despite macro shocks.