#TopContentChallenge#  What Are the Expectations for Bitcoin (BTC) in August?

Bitcoin's miner reserves steadily increased between July 2nd and 22nd, reflecting the coin's accumulation of $122,054, which reached a new all-time high on July 14th.
At the time, miners held onto their rewards, relying on the coin's upward momentum and anticipating a higher price. However, since reaching this peak, BTC has struggled to maintain its upward momentum. In response, miners have begun shedding their holdings to secure profits. This shift is creating new tailwinds for BTC in August.
Bitcoin's Uptrend Halted as Miners Switched to Selling Instead of Holding
As BTC's value began to rise at the beginning of the month, miners on the Bitcoin network also increased their holdings, reflected in the increase in the coin's Miner Reserve.
According to the data, this metric, monitored using the seven-day moving average (7-day SMA), increased by 0.05% between July 1 and 22, peaking at 1.808 million coins.
The Miner Reserve metric tracks the total amount of BTC held in wallets associated with mining organizations. When the reserve increases, it indicates that miners are holding their coins rather than selling them, reflecting bullish sentiment or anticipation of a price increase.
However, following BTC's rise to its July 14 peak and the ongoing price stagnation phase—where it continues to trade—bullish sentiment among miners began to wane. Miner Reserve has been on a downward trend since July 22, suggesting increased profit-taking or diminished confidence in BTC's short-term price outlook.
Because miners control a significant portion of BTC's newly issued supply, changes in their behavior can influence price direction. A decrease in such miner reserves could increase selling pressure and increase the risk of a BTC price correction in August.
Institutional Inflows in August Could Ease Miner Selling Pressure
The increase in miner reserves in early July “is likely a short-term pause rather than the start of an aggressive accumulation.”
“The increase in miner reserves suggests that miners are choosing to hold their BTC, likely waiting for stronger market signals or more favorable price conditions. It doesn’t yet reflect a broad-based accumulation; it appears more like a strategic slowdown in selling. If Bitcoin’s price stabilizes or trends upward, we could see a gradual resumption of accumulation, but for now, it’s more about preserving capital, not making bold bets.”
The relative impact of miner activity versus institutional demand on BTC's current price performance and what to expect.
“Institutional demand is the true backbone of Bitcoin's current price structure. Inflows, particularly from managed ETFs, create a consistent structural demand that more effectively supports price levels than dwindling miner sales.”
“While miner behavior plays a role in alleviating short-term supply pressure, the real driving force shaping the market's direction is rising expectations for institutional capital, broader participation, and a more favorable regulatory climate. The reality is that miners no longer set the pace; institutions do.”
With increasing institutional demand for BTC—as reflected by sustained inflows into BTC-backed ETFs—potential selling pressure from miners could be effectively offset, helping to keep the coin's price stable in August.
According to the data, BTC ETFs have recorded net inflows of $237 million so far this week, despite the coin trading mostly flat.
This confirms that institutional capital, rather than mining activity, is the primary driver of BTC's price, and could stabilize it in the coming month.
Could Bitcoin Break Through the Sideways Trend?
BTC is trading at $118,653 and fluctuating between the support base at $116,952 and the resistance at $120,811. If institutional demand increases and overall market sentiment improves, the coin's price could break through the $120,811 resistance level and head towards a new all-time high in August.
On the other hand, if the bearish pressure intensifies, the coin could slide below the $116.925 level and drop to $114.354.