Replying to Avatar RenaissanceMan

Miners are (overtly, recently) selling approximately 100% of production.

That is 6 * 24 * 6.25 (or 900) coins per day (or 6 * 24 * 30 * 6.25 (or 27,000) per month).

The (rough, average) trading volume for July was 12.7 million bitcoins per day.

900/12,700,000 is not much.

These back of envelope calculations may or may not be correct.
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The ₿itcoin Artist 2y ago

Thanks for the elaborate reponse.

Yeah, that was my feeling too, that there would have to be alot of additional sell pressure

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RenaissanceMan 2y ago

I am of the opinion that the exchanges are "juicing" the volume, but I don't have any hard evidence for that.