The recent trend of Bitcoin miner transaction volume share has shown a downward trend. This value is used to track the percentage of miner-related transactions in the total Bitcoin transaction volume. Data shows that in the first quarter of 2024, the transaction volume share of Bitcoin miners once exceeded 20%, indicating that miners were transferring large amounts of funds on the blockchain. However, since this peak, the indicator has been declining recently and has now fallen below the 5% mark, which means it is already below the 2017 cycle bottom, but still has not reached the low point during the 2021 bull market.