Bitcoin miners have reduced aggressive selling since August 21, with revenues up 78% since July, signaling potential positive pressure on BTC price dynamics.
Macro & Markets ·
Bitcoin miners' revenues have increased 78% since July as profitability improved and extreme outflows ceased, with no significant mining outflows recorded since August 21. Older miners are selling substantially fewer bitcoins, with Satoshi-era miners moving approximately 600 units in September compared to 2,000 in January, while larger modern miners' collective holdings have stabilized rather than continuing to decline. Although miners are not yet accumulating bitcoin, the shift from aggressive selling to reduced outflows removes a consistent source of market selling pressure.