Bitcoin miners have sharply reduced selling activity, marking a notable shift in supply dynamics that could support BTC price stability. According to data from on-chain analytics platform CryptoQuant, no extreme miner outflows have been recorded since August 21, the day Bitcoin reached $76,000. That date also coincided with miners moving from "extremely underpaid" to "fairly paid" conditions.
The recovery has been broad-based. Bitcoin's network hashrate climbed from 899 EH/s on July 31 to 962 EH/s, while the rate of hashrate decline narrowed from 18 percent on July 28 to 13 percent. The price rebound played a central role: Bitcoin rose from around $58,000 in July to above $83,000, a gain of about 45 percent.
Higher prices have directly improved miner income. Total daily mining revenue from block rewards and transaction fees increased by 78 percent, from $27 million to $48 million over the same period. The seven-day average of daily revenue from transaction fees rose from $195,000 to $275,000.
Selling behavior has cooled significantly. In September, long-active miners withdrew approximately 600 BTC, compared with around 2,000 BTC in January — roughly one-third of the earlier outflow level. Meanwhile, the total balance of large miner addresses holding between 100 and 1,000 BTC has stabilized at around 51,000 BTC since the beginning of September. That is down about 20 percent from the 64,000 BTC level recorded in December 2025.
Traders are now watching whether sustained lower miner selling pressure, combined with steady demand, could tighten Bitcoin's immediate supply and influence future price movements.
