The Bitcoin miner reserve has been declining in the last few weeks and could decline further if the price of BTC continues to fall.miners has climbed to a significant high, according to a recent report. Despite the rising stock prices of these miners, their revenue and reserves have been on a decline in the last few days.According to analysts at JPMorgan, the market capitalization of bitcoin miners listed on U.S. exchanges hit an all-time high of $22.8 billion as of 15th June.
This decline suggests that the volume of BTC held by miner addresses is shrinking, indicating an ongoing sell-off from these addresses.Currently, revenue stands at approximately 512 BTC, a significant drop from the over 1,000 BTC observed earlier in the year.hile the recent halving event has contributed to this decline, there has also been a general decrease in revenue overall.Initially, the support level, indicated by the short moving average , was around $66,000.
At the time of writing, Bitcoin was trading at approximately $65,121 and has been unable to break through the new resistance level. The stochastic indicator corroborates the current negative trend, continuing its downward trajectory.Adewale is a full-time journalist at AMBCrypto. While he is increasingly fascinating by the world of blockchain and cryptocurrencies, Adewale holds a degree in International Relations.