The post Bitcoin Slips Below $76.5K as Miner Selling Picks Up — More Downside Ahead? appeared on BitcoinEthereumNews.com.

The post Bitcoin Slips Below $76.5K as Miner Selling Picks Up — More Downside Ahead? appeared first on Coinpedia Fintech News The Bitcoin (BTC) price has been displaying significant strength in the past few days and marked monthly highs above $78,000. Currently, the price is experiencing significant upward pressure as it plunges below $76,500. The underlying data presents a more complex picture than the price action suggests, as the on-chain and derivatives signals reveal the token being in a transition phase.  This raises a key question for traders: is Bitcoin preparing for a breakout toward new highs or setting up for another rejection at resistance? Bitcoin Price Tests Key Support Near $76.5K Bitcoin has rebounded from the $65,000 region and is now testing the $76,000–$78,000 resistance zone, a level that has repeatedly capped upside in recent weeks. Despite the recovery, the broader structure still lacks a confirmed breakout, with price yet to establish a clear higher high above this range. Derivatives data shows rising open interest, indicating fresh positioning, while funding rates remain slightly negative—suggesting that short positions are still dominant. This combination increases the likelihood of a short squeeze if resistance is broken. However, the absence of strong volume confirmation keeps the breakout scenario uncertain. A sustained move above $78,000 could open the path toward $82,000–$84,000, while rejection at this level may push Bitcoin back toward the $72,000–$74,000 support zone. Miner Selling Pressure Begins to Rise The Miners’ Position Index (MPI) has recently turned positive after an extended period in negative territory, signaling that miners are beginning to sell again. While the current levels do not indicate aggressive distribution, the shift itself is important. This suggests that miners are likely taking advantage of higher prices to realize profits, particularly as Bitcoin approaches resistance. Historically, such behavior tends to introduce…

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Filed under: News - @ April 18, 2026 11:19 am