Bitcoin (BTC) Market Holds Steady with Rising Miner Revenues and Exchange Inflows Pointing to Growing Network Activity

The Bitcoin market continues to hold steady with rising miner revenues and exchange inflows pointing to growing network activity. However, these key metrics have not yet hit the levels seen at previous cycle peaks.

Bitcoin (BTC) miner revenue has risen to $51.6 million per day, while exchange inflows have doubled, indicating growing network activity. However, these key metrics have not yet reached the levels seen at previous cycle peaks, according to recent data shared by a market analyst.

After Bitcoin (BTC) touched a new all-time high, miners have stepped up their selling activity, seen in rising exchange inflows.

The average daily inflow has doubled, rising from around 25 BTC to 50 BTC per day. Historically, peaks in miner exchange inflows have reached around 100 BTC per day.

This shows that selling has accelerated, but we’re still a long way from peak volumes and the market comfortably absorbed the increased supply.

Both the rising miner revenues and increased exchange inflows are healthy signs of a vibrant Bitcoin network.

Current figures still leave space for further growth. As long as revenue and inflow numbers remain below historical peaks, it suggests the market has additional room to expand in this cycle.

Miner Exchange Inflows Double As Market Absorbs Supply; Activity Below Peak Levels

According to recent data, Bitcoin miners are currently realizing around $51.6 million in revenue each day.

This figure is still below the historical peak revenue levels of over $80 million per day, last seen during previous market tops.

Miner revenues have been steadily increasing since reaching a low point of $10 million per day during the 2022 bear market.

After the ATH, miners have stepped up their sales on exchanges. Inflows have doubled from an average of 25BTC to 50BTC per day, while historical peaks reach around 100BTC.

This shows that selling has accelerated, but we’re still a long way from peak volumes and the market comfortably absorbed the increased supply.

Both the rising miner revenues and increased exchange inflows are healthy signs of a vibrant Bitcoin network. Current figures still leave space for further growth.

As long as revenue and inflow numbers remain below historical peaks, it suggests the market has additional room to expand in this cycle.

Has Bitcoin Topped? What’s Next?

One analyst predicts that the next peak for Bitcoin could be in the range of $200,000 to $250,000. After reaching those levels, a correction could follow.

For instance, if Bitcoin hit $200,000 and then dropped by 50%, the price would settle around $100,000, which seems possible considering past market behavior.

If major hedge funds and Wall Street investors begin viewing Bitcoin as a safe haven asset during times of economic downturn, similar to U.S. bonds, and pour billions into the cryptocurrency, it could drive up demand significantly.

In such a scenario, Bitcoin might not only reach $200,000 to $250,000 but could even continue climbing.