Bitcoin Miners Face Revenue Slump as BTC Stumbles Away from $100,000 Mark
Bitcoin miners are grappling with a revenue slump as the cryptocurrency’s price dips below $100K. Could further declines exacerbate the pressure?
Bitcoin’s price has dropped nearly 10% since hitting an intraday high of $102,735 on Tuesday. This decline has significantly affected miners, with daily revenue on the Bitcoin network sinking to a 30-day low.
As buying pressure weakens, BTC risks slipping below $90,000, potentially amplifying losses for miners already facing financial strain.
Bitcoin Miner Revenue Declines Amid Price Drop
BTC miner revenue derived from transaction fees and block rewards has fallen steadily since January 2. According to Glassnode, it is currently at 398.20 BTC, down 24% over the past week.
When Bitcoin miner revenue falls, it means that miners are earning less from validating transactions and securing the network. This decline typically occurs when Bitcoin’s price drops, reducing the value of rewards paid to miners.
Bitcoin Total Miner Revenue. Source:
Glassnode
Over the past two days, Bitcoin has noted a significant fall. For context, during Tuesday’s intraday trading session, the leading cryptocurrency traded briefly at a high of $102,735. However, selling activity soon gained momentum, causing the coin’s price to trend downward. At press time, BTC trades at $93,419.
As more Bitcoin miners rush to offload their coins to prevent further losses to their BTC holdings, the amount of BTC held in miner wallets has steadily declined. As of this writing, this stands at 1.79 million BTC, a drop of 0.005% since January 2.
Bitcoin Balance in Miner Wallets. Source:
Glassnode
BTC Price Prediction: Will it Hold or Break Below $90K?
On the BTC/USD daily chart, BTC trades slightly above the support formed at $91,437. If selloffs persist, the coin’s price could break below this level and the $90,000 range to trade at $85,224. In this scenario, Bitcoin miner revenue would plunge further, causing more miners to sell their coins to cover operational costs.
Bitcoin Price Analysis. Source:
TradingView
However, if market sentiment improves and the demand surges, this may drive the coin’s price toward $102,538, increasing BTC miner revenue.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin due 2026 bottom as exchange volumes grind lower: Analysis
samczsun: The Key to Crypto Protocol Security Lies in Proactive Re-Auditing
Bug bounty programs are passive measures, while security protection requires proactive advancement.
Millennials with the most cryptocurrency holdings are reaching the peak of divorce, but the law is not yet prepared.
The biggest problem faced by most parties is that they have no idea their spouse holds cryptocurrency.
Using "zero fees" as a gimmick, is Lighter's actual cost 5–10 times higher?
What standard accounts receive from Lighter is not free trading, but rather slower transactions. This delay is turned into a source of profit by faster participants.
Trending news
MoreCrypto prices
More
