Miner Selling Drives Short-Term Supply Pressure on Bitcoin

Financial pressure on Bitcoin miners has led to an increase in sales of BTC and a reduction in mining capacity, resulting in a 21% drop in the 30-day Mean Hash Rate. This surge in miner selling returns BTC to circulation, increasing supply near Bitcoin's lower price range for 2026.

The movement of dormant coins remains significant, with over 3.5 million BTC idle for more than ten years, limiting broader selling pressure. A notable but isolated example is the recent activity from an 8.54 BTC wallet that is 15 years old.

Despite this short-term supply pressure from miners, sustained scarcity from long-term holders continues to influence the market. The Coin Days Destroyed metrics remain low, indicating that overall market impact is muted.