According to Bloomberg, Bitcoin miners' main sources of income - mining subsidies and transaction fees - are facing greater selling pressure. The launch of some meme coins after Bitcoin's halving has made users willing to pay miners at higher rates in order to prioritize their transactions, which has caused transaction fees to skyrocket. However, as the meme coin craze has cooled, these fees have also fallen sharply. Data analysis company Kaiko said in a report on Monday that if miners are forced to sell their Bitcoin holdings in the next month, it will have a negative impact on the market. Although Bitcoin miners sold most of their reserves during the last cryptocurrency crash in 2022, the number of Bitcoins they hold has increased over the past two years as the digital asset market has rebounded strongly. The two largest public Bitcoin mining companies, Marathon and Riot, hold 17,631 Bitcoins worth more than $1.1 billion and 8,872 Bitcoins worth more than $500 million, respectively.
