On-chain data analysis shows that the Bitcoin Miners' Position Index (MPI) has formed a bullish crossover, indicating positive momentum for the asset's price. The MPI measures the ratio between total miner outflow and the 365-day moving average. When the MPI is high, miners are making more outflows, potentially bearish for the price. Conversely, a low MPI suggests miners are holding onto their coins. The derivative indicator, MPI Momentum, shows that miner selling has gained positive momentum, historically signaling the start of a bullish period for Bitcoin's price. The current placement of the two lines suggests there is still room for growth before a potential top. Bitcoin recently fell to around $98,000 but has rebounded to $102,500.



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