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Bitcoin Miners' Daily Income Has Fallen to the Lowest Level in the Last Three Months! Is Selling Pressure Coming? Here Are the Details
As the daily earnings of Bitcoin miners significantly declined in June, according to CryptoQuant data, selling pressure has not yet been felt in the market. Despite the decrease in earnings, miners continue to accumulate BTC.
Bitcoin Miner Revenues at 2-Month Low, But No Selling Pressure
According to the weekly report shared by CryptoQuant, the daily income of Bitcoin miners fell to 34 million dollars on June 22, reaching its lowest level since April. This level stands out as one of the weakest earnings in the past year.
In the decline, the decrease in transaction fees and the Bitcoin price hovering near local bottom levels were influential. This situation weakens the incentives for miners to stay online.
The total processing power of the Bitcoin network, known as hashrate, has seen a decrease of 3.5% since June 16, experiencing the sharpest pullback since July 2024. Although this indicates that the pressure on miners, who are squeezed by profit margins after the halving, has increased, the expected panic selling has not yet occurred.
The amount of BTC coming from miner wallets has decreased from an average of 23,000 BTC daily in February to around 6,000 BTC now. No significant transfers to exchanges have been observed.
Especially long-term investors known as "Satoshi era miners" who produced (2009-2011) coins in the early years of Bitcoin are also maintaining their positions. While only 150 BTC were sold from these wallets in 2025, this figure was around 10,000 BTC in 2024.
On the other hand, miner addresses holding between 100 and 1,000 BTC are generally wallets belonging to medium-sized operations, which have added an additional 4,000 BTC since March, bringing their balances to the highest level since November 2024.
Long-Term Expectation Prevails
According to CryptoQuant, miners are determined to either deplete their cash reserves or wait for prices to recover instead of selling. The report included the following statement:
"This situation clearly indicates that there is no selling pressure from miners at the current price levels."
Even though revenues have fallen, Bitcoin miners' reluctance to sell greatly limits potential selling pressure in the market. This attitude indicates that Bitcoin is finding support at current levels and that long-term bullish expectations are being sustained.
*Not an investment advice.
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