This Data in Bitcoin Has Dropped to a 2-Month Low: However, There Is Still No Selling Pressure! - Koin Bulletin

Bitcoin (BTC) miners are reluctant to sell their Bitcoins, despite falling to the lowest income level in the last two months.

Bitcoin mining revenues dropped to 34 million dollars per day on June 22, marking the lowest level in the last two months. According to CryptoQuant's weekly report, this figure is among the lowest levels of the past year. The Bitcoin price being close to local low levels and falling transaction fees are seriously squeezing miners' profits.

Despite this, the expected heavy selling from miners did not occur. BTC withdrawals from miner wallets are extremely limited. Withdrawals that were at a daily level of 23 thousand BTC in February have now decreased to approximately 6 thousand BTC per day. Additionally, large-scale transfers to exchanges have not been observed.

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Satoshi Era Miners Silent

Another noteworthy development is the silence of the wallets known as Satoshi era miners, which were mining in the early years of the Bitcoin network. Only 150 BTC was sold from these addresses in 2025. However, in 2024, this amount was around 10 thousand BTC. This situation indicates that the miners still have an expectation of a rise.

Additionally, addresses known as medium-sized mining operations, holding 100 to 1,000 BTC, have increased their reserves to the highest point seen since November 2024, adding a total of 4,000 BTC since March.

As a result, CryptoQuant emphasizes that miners are not inclined to sell at the current price levels and are following a long-term strategy.