Cryptocurrency miners stopped selling bitcoin

Last Thursday, bitcoin (BTC) miners' income reached a two-month high. Interestingly, on the same day, miners did not sell their assets for the first time in the last month.

The decline in bitcoin sales by miners as bitcoin approaches an all-time high of $ 73,764 suggests that BTC has a chance of reaching this mark.

On Thursday, miners' income amounted to 552 BTC, which is estimated at more than $ 37 million at current market prices. According to Glassnode, this is the highest figure since August 22 and is 12% higher than the 491 BTC revenue recorded last Wednesday.

The increase in miners' income is directly related to a significant increase in average transaction fees on the network. According to Messari, this figure has increased by 166% over the past seven days and currently stands at $ 5.31.

Interestingly, the increase in miners' income over the past two months has coincided with a change in their behavior. On Thursday, for the first time in a month, miners decided to hold their coins instead of selling them. An analysis of the change in miners' net position, which tracks BTC holdings on their addresses, confirms this fact.

On Thursday, miners held a total of 658 bitcoins, which was the first time since September 16 that most miners decided not to sell their assets.