The latest data from Kaiko, a crypto research and analysis company, shows that Bitcoin miners are facing huge selling pressure. This is mainly due to the decline in Bitcoin mining revenue and transaction fees, which has forced miners to consider selling Bitcoin to pay for operating costs.
Bitcoin miners' income mainly comes from two aspects: mining rewards and transaction fees. However, affected by the halving of Bitcoin rewards in April, miners' mining rewards have dropped significantly. Specifically, the block reward has dropped from 6.25 BTC to 3.125 BTC, which means that miners' income has been directly reduced by half. In order to pay for the large amount of expenses in the mining process, miners have to choose to sell Bitcoin.
In addition, transaction fees, another source of income for miners, also showed a downward trend. According to data from the first week of May, the profit miners received from transaction fees was even lower than the mining income. This phenomenon undoubtedly increased the economic pressure on miners, making them more likely to choose to sell Bitcoin.
Analysts believe that in the current situation of reduced market liquidity, the selling of Bitcoin by miners may have a significant impact on the crypto market. Take Marathon Digital as an example. The company holds Bitcoin worth up to $1.1 billion. If it sells part of it, it will be enough to cause drastic fluctuations in the market.
The declining income faced by Bitcoin miners may trigger a series of market reactions. This will not only affect the operations of miners themselves, but may also have a profound impact on the entire crypto market. Therefore, this issue deserves the attention of all those who pay attention to the cryptocurrency market. $BTC #挖矿 #BTC走势分析 #挖矿难度
