While miner pressure on the market remains fairly steady, long-term holders have reduced their activity — a constructive signal for the crypto market. This paradox, where two key factors move in different directions, deserves closer inspection. Stable supply from miners, who continue to produce new coins, maintains a familiar issuance flow without triggering sharp swings in supply volume. That creates predictability and reduces fears of a sudden glut.

At the same time, a slowdown in activity among long-term holders, or "hodlers," is generally positive. VanEck data from mid-March 2026 show that selling by long-term holders has slowed, and transfer volumes have fallen across all user groups. "A decline in transfer activity typically signals reduced distribution pressure from experienced market participants," VanEck said in its report, calling the development a potentially constructive signal.

Investors who hold assets for the long term are usually less prone to panic selling or speculative trading. Their sluggish activity can mean they are waiting for further upside and do not want to liquidate holdings at current prices. That strategy is typical of those who believe in the asset's fundamental value and long-term potential.

Miners, despite a drop in profitability last month, also did not increase supply to the market and thus have kept pressure at roughly the same level. Data show miners' total revenue fell 11% month-on-month, and shares of Bitcoin mining companies slid about 7%. "Despite a deteriorating economic situation, miners did not meaningfully step up market pressure with fresh sales," the report said. "Outflows from miners to exchanges rose only 1%, indicating most operators are trying to preserve remaining reserves rather than aggressively liquidate assets."

Trading recommendations

Bitcoin

Buyers are currently targeting a return to $70,900, which would open a direct path to $73,000 and then to $74,600. The most distant upside target is around $76,500; a break above that would signal attempts to resume the bull market. On the downside, buyers are expected at $69,300. A move below that area could quickly push BTC toward $66,700, with a further downside target near $64,900.

Ethereum

A clear close above $2,175 would open the way to $2,238. The most distant upside target is around $2,296; a break above that would indicate strengthening bullish sentiment and renewed buyer interest. On the downside, buyers are expected at $2,078. A move below that area could quickly send ETH toward $2,007, with a further downside target near $1,915.

What's on the chart

• The red lines represent support and resistance levels, where price is expected to either pause or react sharply.
• The green line shows the 50-day moving average.
• The blue line is the 100-day moving average.
• The lime line is the 200-day moving average.

Price testing or crossing any of these moving averages often either halts movement or injects fresh momentum into the market.