Riot unloads $38.95 mln in Bitcoin – Will this make BTC fail at $78K?

Riot Platforms deposited 500 BTC (~$38.95M) to NYDIG, extending visible miner-driven selling that added near-term supply as Bitcoin approached a key resistance zone. Price rebounded from the $65k demand area into a range between $73,755 support and $78,488 resistance, but compression under that resistance and elevated valuation metrics suggest upside may be constrained. The Miners’ Position Index fell to -0.5017 (a -265.86% change), indicating miner outflows are present but not historically extreme, and the NVT ratio rose to 23.64 (+16.52%), signaling price has risen faster than network activity. Directional indicators show buyers have short-term control (+DI 27.11 vs -DI 12.90) while ADX at 22.56 points to only moderate trend strength. Market absorbed the recent flows without immediate breakdown, but continued large-scale miner deposits could pressure BTC and limit further rallies.