Positive Signals from Bitfinex: Bitcoin Miners Not Giving Up Despite Volatile Market!

Jakarta, Pintu News – Amid continued macroeconomic uncertainty, Bitcoin (BTC) miners are showing impressive resilience.

According to a recent report from Bitfinex Alpha, there are no signs of significant surrender from miners, despite Bitcoin (BTC) falling by 32% from its highest peak in 2024.

The stable on-chain data shows that miners still hold strong confidence in the market’s future growth potential.

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Miners’ Reserve Stability

According to recent data, Bitcoin (BTC) miners’ reserves have remained stable, reaching 1,808,674 BTC as of May 5, virtually unchanged from December 2024. This suggests a cautious holding strategy, where miners are reluctant to sell their assets in a big way.

This stability signals their expectation of future price increases, despite facing operational costs such as electricity, maintenance, and salaries. Analysts from Bitfinex Alpha emphasize that miners’ reluctance to sell their assets, even after a 32% price recovery from the April low, shows their optimism that the bull cycle is not over yet.

This suggests that the current cycle still has room to grow despite macro volatility and uncertainty.

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Puell Multiple and Miner Profitability

The Puell Multiple, which is a key indicator of miners’ profitability, is currently well below the threshold that historically indicates increased sales activity. Values above 2 usually signal an increase in sales, but the current level suggests that miners’ likelihood of large-scale sales is quite small.

This analysis corroborates the view that Bitcoin (BTC) miners do not feel compelled to sell their assets anytime soon. With a low Puell Multiple, this suggests that they may prefer to wait and see, hoping that the value of Bitcoin (BTC) will continue to increase over time.

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Future Prospects of Bitcoin

Stable reserves and low selling pressure from miners confirm their confidence in the potential future rise in Bitcoin’s (BTC) value. While the market may still be vulnerable to short-term fluctuations, existing structural signals suggest that there are still growth opportunities in the current cycle.

Analysts suggest that miners continuing to hold their positions could indicate that they anticipate more price increases. This confidence, backed by on-chain data, provides a more positive outlook towards the future of Bitcoin (BTC).

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Bitcoin Miners Show No Sign of Capitulation as Structural Signals Stay Positive, Bitfinex Says. Accessed on May 6, 2025
• Featured Image: Generated by AI