Bitcoin Miner Revenue Drops to 2-Month Low, but Selling Pressure Remains Absent: CryptoQuant
Bitcoin BTC miner revenues have slid to their lowest levels in two months, but there’s still no sign of forced selling, even as profitability falls.
Daily mining revenue dropped to $34 million on June 22, the weakest since April and among the lowest levels over the past year, CryptoQuant said in a weekly report shared with CoinDesk.
The drop comes as transaction fees decline and bitcoin hovers near local lows, reducing overall incentives for miners to stay online.
(CryptoQuant) Hashrate has dipped 3.5% since June 16, marking the most significant pullback in network computing power since July 2024. While modest, it reflects mounting pressure on miners already grappling with tighter margins following the halving.
Yet the expected wave of miner capitulation hasn’t materialized. Outflows from miner wallets have remained muted, sliding from 23,000 BTC per day in February to around 6,000 BTC currently — with no exchange transfer spikes recorded.
Even wallets tied to Satoshi-era miners, often a bellwether for long-term sentiment, have barely budged: just 150 BTC sold so far in 2025, compared to nearly 10,000 BTC offloaded in 2024.
Satoshi-era miners refer to network participants who mined their coins during the very early days of the Bitcoin network, typically between 2009 and 2011, when Satoshi Nakamoto, Bitcoin's pseudonymous creator, was still active on online forums.
Meanwhile, data shows miner reserves are growing. Addresses holding between 100 and 1,000 BTC — typically operated by mid-sized mining entities — have added 4,000 BTC since March, pushing balances to their highest levels since November 2024.
The takeaway is miners are playing the long game, either anticipating a rebound or preferring to burn through cash rather than sell at current prices.
“This further suggests there’s no selling pressure coming from miners at these price levels,” CryptoQuant concluded.
Despite the two-month low in Bitcoin miner revenue, CryptoQuant data reveals an unexpected absence of selling pressure on market. Could this indicate a potential reversal or is there still more adjustments to come?
With Bitcoin miner revenue tumbling to a 2-month low, it's intriguing how the spot market remains resilient against anticipated selling pressure by miners. This suggests an ongoing balance in adoption and growing appetite for cryptocurrency assets amidst broader economic uncertainties.
Despite the recent decline in Bitcoin mining revenue reaching a 2-month low, market stability prevails with negligible selling pressure. This suggests that investors' optimism and potential long trades may be on rise for future price rebounds observed through CryptoQuant analytics.
Despite the two-month low in Bitcoin mining revenue, crypto market shows resilience with absent selling pressure. This suggests that investors' confidence and accumulation by whales are still intact amidst uncertain economic times.
Despite the decline in Bitcoin mining revenue setting two-month lows, remarkable is the ongoing absence of selling pressure as investors appear more focused on holding their digital assets rather than cashing out.
The decline in Bitcoin mining revenue to a two-month low underscores the shifting dynamics of cryptocurrency markets, while notably absent selling pressure suggests stability amidst broader fluctuations.
Despite the two-month low in Bitcoin mining revenue, CryptoQuant's data demonstrates a surprising absence of selling pressure on cryptocurrencies. This suggests that investors may be holding onto their assets despite potential income reduction for miners.
Despite a decline in Bitcoin miner revenue to its lowest level for two months, the market shows remarkable resilience with absent selling pressure as observed by CryptoQuant. This suggests an accumulation phase amidst traders' cautious optimism.
Despite the two-month low in Bitcoin miner revenue, absence of sell pressure suggests investors are holding strong and potential for recovery once market fundamentals improve.
Despite the recent decline in Bitcoin mining revenue to a two-month low, CryptoQuant data suggests that market sentiment remains bullish as selling pressure has not materialized. Is this just an orthodox correction ahead of further gains?
