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Key Bitcoin price metric signals BTC may near a local topAccording to data from cryptoQuant, miners appear to be selling large amount of #bitcoin (BTC). Historically, heightened selling pressure from miners marked a local top and led to sharp, prolonged corrections.Why are Bitcoin miners selling?In may 2020, on-chain analyst willy woo said that there would be two sources of unmatched selling pressure in the market after the block reward halving.Woo pinpointed Bitcoin miners and cryptocurrency exchanges selling the fees they gain in the form of crypto assets as the sources of selling pressure. He said:There's only two unmatched sell pressures on the market. (1) miners who dilute the supply and sell into the market, this is the hidden tax via monetary inflation. And (2) the exchanges who tax the traders and sell onto the market."Hence in the short medium term , miners could continue to serve as a major source of learning pressure on Bitcoin.Based on data from CryptoQuant, the miner position index (MPI) has surged significantly in the past few days.