Bitcoin miners emerge from stress zone, computing power and income rebound, selling pressure eased

CryptoQuant analysis shows that Bitcoin miners have emerged from the stress zone. The computing power of the entire network has rebounded from 899 EH/s to 962 EH/s, and the drawdown has narrowed to 13%. The price of Bitcoin rebounded from $58000 to over $83000, miners' daily total revenue increased from $27 million to $48 million, and daily transaction fees rebounded from $195000 to $275000. Since Bitcoin reached $76000, miners' profitability has become reasonable. The selling pressure eased, and in mid September, miners from the Satoshi era released 600 BTC, which is about one-third of the 2000 BTC released in January. The balance of large miners' addresses holding 100 to 1000 BTC has stabilized at 51000 BTC, after a 20% decline since 64000 BTC.