ON-CHAIN ALPHA: UAE Mining Whales Refuse to Sell $454M in $BTC

Smart money moves quietly. On-chain data from Arkham reveals a strong accumulation signal coming from the UAE. Through strategic partnerships linked to Citadel, UAE-based mining operations have generated approximately $453.6M in Bitcoin.

Here’s the key signal: they are not selling.

Despite holding an estimated $344M in unrealized profit, the last major on-chain distribution occurred over four months ago. From a market structure perspective, this marks a clear shift from miner capitulation to strategic accumulation.

When miners with access to low-cost energy choose to hold supply instead of selling to cover operating expenses, it creates a supply shock. The removal of sell-side liquidity points to deep institutional confidence in the long-term value of $BTC.

Verdict: Market structure remains bullish.

The supply overhang is fading.

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