Bitcoin Miners Withdraw 36,000 BTC as Bullish Signals Increase

More than 36,000 BTC left exchanges this month as miners moved their assets to cold storage, signaling rising expectations ahead.

Bitcoin miners have removed more than 36,000 BTC from exchanges since early February.

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

Miner activity in February

A CryptoQuant report indicates that approximately 36,000 BTC were transferred from trading platforms in a short period of time this month. Of that total, more than 12,000 BTC was withdrawn from Binance, while the remaining 24,000 BTC was distributed to various other exchanges. This shows that the activity occurred across the market, and was not linked to a single exchange or an isolated transaction.

This type of activity is generally associated with long-term storage, as miners typically move BTC to cold wallets rather than leaving their holdings on exchanges. Such transfers can also signal confidence in future price growth, as lower exchange rate balances reduce the amount of BTC readily available for sale on the spot market.

CryptoQuant also noted that daily withdrawals accelerated during the period. In one day alone, more than 6,000 BTC were withdrawn from the exchanges, which is the highest single-day total since last November. Compared to January, withdrawal levels in February are much higher, adding to the view that miners are actively repositioning themselves.

At the same time, miners aren’t the only group showing continued confidence in the benefits of the OG cryptocurrency. Data shows that long-term holders have accumulated 380,104 BTC over the past 30 days, indicating continued demand from that market segment.

Market Outlook

The opening weeks of February have dealt a blow to BTC, with the price falling near $60,000 at one point. Data from CoinGecko shows that the cryptocurrency has risen from just over $67,000 to just under $70,000 in the past 24 hours, while posting a decline of more than 28% in the past month.

You might also like:

However, analysts at VanEck describe the 2026 downtrend as an “orderly deleveraging” rather than a sudden collapse. Mathew Sigel, head of Digital Asset Research, formerly explained that this is because open interest on futures has fallen by around 20%, indicating that leveraged positions are being unwound in a controlled manner rather than through panic-driven liquidations.

February’s performance was also driven by institutional outflows, macroeconomic pressures and tax-related factors. Spot Bitcoin ETF outflows are now exceed inflows, indicating profit-taking or a shift to defensive assets such as gold. The Federal Reserve has also kept interest rates near 3.75% with inflation at 2.4%, while the Internal Revenue Service’s recently introduced 1099-DA form increases the compliance burden on investors.