Bitcoin Miner Holdings Hit Monthly Low at 1.19M BTC on July 25

Bitcoin miner holdings fell to 1,193,026 BTC as of July 25 at 2 PM according to CryptoQuant data, marking the lowest level since June 28. The 563 BTC decline from the prior week indicates miners are selling, lending, or using their Bitcoin as collateral. This reduction follows the April 20, 2024 halving event that cut mining rewards in half.

Bitcoin Miner Holdings Drop to 1,193,026 BTC

Bitcoin miner holdings stood at 1,193,026 BTC (approximately 112.76 trillion won) as of July 25 at 2 PM per CryptoQuant charts. This represents a decrease of 563 BTC (approximately 53.2 billion won) from seven days prior. The metric last reached this level on June 28. The decline in this indicator means miners are using mined Bitcoin for sales, loans, or collateral purposes.

Bitcoin Hash Rate Rises to 917.5 Million TH/s

The Bitcoin hash rate 7-day moving average reached 917,546,677 TH/s (terahash per second) as of July 25 at 2 PM according to Blockchain.com data. This marks an increase of approximately 34,598,147 TH/s from seven days earlier. The increase in this metric indicates growing mining demand among miners. Hash rate refers to the total computational processing power deployed on the network to mine Bitcoin.

Bitcoin Puell Multiple Falls to 0.70

The Bitcoin Puell Multiple registered 0.70 as of July 25 at 2 PM on Visiometrics. This represents a decrease of 0.13 from seven days prior. The Puell Multiple divides daily Bitcoin mining output by the 365-day moving average to assess market overheating or undervaluation relative to mining output and gauge trading timing. A reading above 4 indicates overheated mining output, typically followed by Bitcoin price declines. Conversely, a reading below 0.4 suggests significantly reduced miner profitability and Bitcoin undervaluation, leading to price increases.

FAQ

What caused Bitcoin miner holdings to drop on July 25?

Bitcoin miner holdings decreased by 563 BTC to 1,193,026 BTC as of July 25 at 2 PM per CryptoQuant data. The decline indicates miners are selling, lending, or using their Bitcoin as collateral.

What is the Bitcoin Puell Multiple and what does 0.70 indicate?

The Bitcoin Puell Multiple divides daily Bitcoin mining output by the 365-day moving average to assess market conditions. As of July 25 at 2 PM, the metric stood at 0.70 on Visiometrics. Readings above 4 signal overheated mining output, while readings below 0.4 suggest undervaluation.