ChainCatcher reported that Bitcoin miners’ daily return has fallen to $0.28, marking a historic low. The figure reflects the daily return level associated with Bitcoin mining activity, and its decline shows continued pressure on the miner revenue side. At the same time, miners’ net holdings remain negative, indicating that the miner group is still in a net outflow position in terms of holding changes.
Against the backdrop of weakening miner returns and persistently negative net holdings, institutional spot flows have become a key variable for the market. Changes in spot inflows or outflows will remain central to how the market observes Bitcoin’s supply and demand structure.
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