Bitcoin miners have significantly reduced their selling activity after a difficult period. Their revenues surged 78%, rising from $27 million to $48 million per day, driven by a 45% increase in BTC price since early July, now trading around $83,000. Extreme outflows have ceased since August 21, with daily outflows returning to approximately 12,000 BTC, within a normal range. Satoshi-era miners sold approximately 600 BTC in September, down 70% from January’s 2,000 BTC, while their combined holdings remain close to 590,000 BTC. The Miner Profit/Loss Sustainability Indicator shifted from « extremely underpaid » to « fairly paid », meaning the persistent selling pressure weighing on the market has eased, even though miners have not yet resumed accumulating.
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