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on September 13, CryptoOnchain stated on social media that the realized miner inflows to the platform reached a historical peak of $1.87 billion on August 13, 2025, marking the largest transfer of miner-held Bitcoin value in history. Two possible explanations are: · Miner capitulation under pressure: Rising operating costs and network difficulty may force miners to sell, and historically, such phases often coincide with cycle bottoms; · Strategic profit-taking: