Bitcoin: After Halving, Miners Still Hold BTC – What is the Reason?

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Bitcoin: After Halving, Miners Still Hold BTC – What’s the Reason?* Bitcoin miners are holding post-halving despite reduced block rewards.

  • Dự trữ ổn định và chỉ số Puell Multiple vừa phải cho thấy các thợ đào kỳ vọng vào giá cao hơn trong tương lai.

Bitcoin [BTC] miners, who often react first to price shifts, remain calm post-halving. With daily block rewards now reduced to 3,125 BTC, miners usually sell to cover expenses.

However, on-chain data shows stable reserves and minimal selling pressure.

Sự yên tĩnh này báo hiệu sự tự tin mạnh mẽ giữa các thợ đào, cho thấy niềm tin vào xu hướng đi lên của Bitcoin.

Why Miners Usually Sell, and Why They’re Holding Now

Mining is costly. With expenses like electricity and maintenance, miners often sell BTC to stay afloat. Historically, miners sell when market prices peak.

This cycle differs. Post-halving hasn’t led to mass selling; miners hold their coin.

Điều này gợi ý một sự thay đổi hành vi chiến lược. Các thợ mỏ có thể đang chờ đợi giá cao hơn đáng kể. Mức hiện tại không phải là điểm thoát hấp dẫn.

Bitcoin Miner Reserve Data Shows Stability

Data reveals a stable trend. From 1,808,315 BTC on 25 December 2024, to 1,808,674 BTC on 3 May 2025, reserves changed by less than 0.02%.

bitcoin miners Source: CryptoQuant

Điều này cho thấy các thợ mỏ không đang tích cực phân phối coin, mặc dù có các ưu đãi kinh tế.

In past cycles, such stability has preceded major price increases, suggesting miners anticipate a bullish phase.

Puell Multiple Data Breakdown

bitcoin miners Source: CryptoQuant

The current mid-range Puell Multiple shows miners aren’t under stress or overly euphoric. This indicates they’re content to wait. Historically, when the Puell Multiple is calm and reserves steady, there’s potential for market growth before peaking.

Currently, Bitcoin miners act more like long-term investors. As long as they hold, Bitcoin’s upside potential remains strong.

Thank you for reading this article!

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