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BTC Cryptocurrency miners stop aggressive selling: What does this mean for Bitcoin
CryptoQuant's latest weekly report pointed out that Bitcoin miners 'earnings have risen sharply by 78% from the July low, profitability has improved significantly, and the previously extreme outflow of miners has disappeared. After concluding that these major network players have passed the most difficult period of the year, CryptoQuant added that Bitcoin prices are expected to benefit further as continuing selling pressure is eliminated.
Selling pressure from miners is weakening.
The report emphasizes that there have been no extreme outflow of miners since August 21. At the time, as the price of cryptocurrency rebounded from below $65,000 to $76,000, approximately 29,000 bitcoins flowed out of wallets associated with miners. The current largest single-day outflow is about 12,000 BTC, which is within what the company believes to be a normal range.
Large-scale selling by early miners also decreased significantly. After excluding bitcoins related to "Patoshi", miners in the Satoshi era only transferred about 600 units out of their wallets in September, a decrease of about 70% from the 2,000 units in January. At the same time, their total holdings are still close to 590,000 bitcoins.
This trend also extends to large modern miners. The collective balance holding 100 to 1,000 unit addresses dropped from approximately 64,000 BTC in December 2025 to 51,000 BTC in early September, a decrease of approximately 20%. However, the data has since stabilized and has not continued to decline.
Although CryptoQuant admitted that miners had not yet begun to accumulate, the report concluded that continued selling pressure had stopped. This is in sharp contrast to early August, when major miners, including MARA and Riot Platforms, were still transferring large amounts of BTC to NYDIG despite difficult industry and market conditions.
Why is this shift happening?
The report explains that miners are currently under no obligation to sell Bitcoin immediately because the BTC price has rebounded more than 45% from below US$58,000 in early July to above US$83,000 this week. This increased miners 'total daily income from US$27 million to approximately US$48 million, an increase of 78%. Transaction fees also recovered to $275,000 from a seven-day average of $195,000, although well below the peak seen in 2025.
CryptoQuant's Miner Profit/Loss Sustainability Indicator has shifted from a "significant underestimation" from May to August to a "reasonable payment" after August 21. This means that fewer bitcoins miners need to liquidate to cover costs to maintain operations, thereby reducing the pressure of forced liquidation.
Bitcoin's hash Rate has also recovered, rising from below 900EH/s at the end of July to above 960EH/s, and the retracement rate compared with the previous peak narrowed from 18% to 13%. CryptoQuant interprets this as a return of mining capacity rather than a surrender by operators.
However, the report also pointed out a missing link: miners have stopped selling, but have not yet begun to rebuild their bitcoin balances. CryptoQuant believes that if miners can continue to return to accumulation mode, it will send a stronger signal that the cornerstone of the Bitcoin network has completely transformed from a market supply source to a long-term holder.
