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Bitfinex Says 60% of Bitcoin Supply Has Stayed Idle for Over a Year

CryptoQuant data shows Bitcoin miner reserves have fallen by about 61,000 BTC since the 2024 halving, reflecting continued distribution by miners and reduced aggregate holdings.

BTC

Summary

CryptoQuant’s latest data indicates that Bitcoin miner reserves declined by about 61,000 BTC since the 2024 halving, falling from roughly 1.862 million BTC to about 1.801 million BTC. The data also shows that three major mining firms sold around 19,000 BTC during this period, highlighting ongoing miner distribution after the halving reduced block rewards.

Terms & Concepts
  • Bitcoin miner reserves: The amount of Bitcoin held by mining entities, often tracked to assess whether miners are accumulating coins or selling them into the market.
  • BTC: The ticker symbol for Bitcoin, the largest cryptocurrency by market value.
  • halving: A scheduled Bitcoin network event that cuts miner block rewards in half, reducing the rate of new Bitcoin issuance.