BTC withdrawals from miner-affiliated wallets have gone from above 50,000 per day to under 10,000 since the halving, data shows.
Bitcoin (BTC) miner withdrawals have decreased by nearly 90% since the time of the block subsidy halving, data shows.
In a Quicktake post on June 28, on-chain analytics platform CryptoQuant suggested miner sell pressure is “weakening.”
Bitcoin miners have spent several months adjusting to a new economic reality after April’s halving, which cut their subsidy per mined block by 50%.