- Miners now earn $51M daily, still below previous cycle highs.
- Bitcoin inflows to exchanges doubled, showing rising miner selling pressure.
- Network activity remains strong, with room left for further growth.
The Bitcoin market continues to hold steady with rising miner revenues and exchange inflows pointing to growing network activity. However, these key metrics have not yet hit the levels seen at previous cycle peaks. According to recent data shared by a market analyst, Bitcoin miners are currently earning around $51.6 million per day.
While this figure is impressive, it still remains below the historical peak revenue levels of over $80 million per day, last seen during previous market tops. This hints that while the network is highly active, there’s still room for mining revenue to climb further before reaching its historical highs.
Miner Exchange Inflows Double but Market Absorbs Supply; Activity Below Peak Levels
Another important trend is the increase in miner exchange inflows. After Bitcoin recently touched a new all-time high, miners have stepped up their selling activity. The average daily inflow has doubled — rising from around 25 BTC to 50 BTC per day. Historically, peaks in miner exchange inflows have reached around 100 BTC per day.
Despite this increase in supply, the market has shown strong absorption, comfortably handling the additional Bitcoin being sold by miners. This steady demand suggests that while selling pressure has risen, it has not yet overwhelmed the market.
Related: Bitcoin Price Prediction for May 28: BTC Struggles Below $110K Resistance
Both the rising miner revenues and increased exchange inflows mean a healthy and active Bitcoin network. Current figures still leave space for further growth. As long as revenue and inflow numbers remain below historical peaks, it points to the market having additional room to expand in this cycle.
Has Bitcoin Topped? What’s Next?
According to an analyst, the prediction for Bitcoin’s next peak price is expected to be between $200,000 and $250,000. After reaching those levels, a correction could follow. For example, if Bitcoin hit $200,000 and then dropped by 50%, the price would settle around $100,000 — which seems possible based on past market behavior.
If major hedge funds and Wall Street investors start viewing Bitcoin as a safe alternative to traditional fiat currencies, especially during times of economic trouble, demand could rise. In that scenario, Bitcoin might not only reach $200,000 to $250,000 but could even climb higher.
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