On June 22, 2025, Bitcoin miner daily revenue fell to $34 million, marking the lowest level in two months according to CryptoQuant data. Despite this downturn, outflows from miner wallets remained low, with no significant selling pressure observed.
Key Market Observations
- Addresses holding 100–1,000 BTC have accumulated ~4,000 BTC since March, reaching reserves last seen in November 2024.
- Analysts suggest miners are prioritizing cash reserves over selling BTC at current prices, limiting market-wide sell pressure.
Why This Matters
The decline in miner revenue reflects broader market conditions but doesn’t necessarily signal bearish sentiment. Historical data shows that prolonged low revenue can force inefficient miners offline, potentially reducing Bitcoin’s hash rate and increasing profitability for remaining miners.
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FAQs
1. How does miner revenue impact Bitcoin’s price?
Lower revenue can strain miners’ cash flow, but if selling remains subdued (as observed here), the direct price impact may be minimal.
2. What does increased accumulation by mid-tier wallets indicate?
This suggests strategic buying by whales, often a bullish signal for long-term price stability.
3. Could this revenue drop trigger a mining capitulation event?
Not immediately—metrics like hash price and wallet outflows would need to show sustained stress. Current data suggests operational resilience.
Conclusion
While miner revenue hit a multi-month low, the absence of aggressive selling and continued accumulation by key wallets point to underlying market strength. Monitoring hash rate adjustments and miner behavior will be critical in coming weeks.
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### Keywords:
Bitcoin miner revenue, BTC accumulation, CryptoQuant data, hash rate, selling pressure, whale wallets, market trends