Miner Stress Hits Post-Halving Extremes as Long-Term Holders Absorb Additional Supply

Bitcoin's miner stress has reached post-halving extremes, with a 2,150% surge in miner shutdowns over the past week. According to CryptoOnchain, this massive increase implies worsening mining economics following the halving, which reduced block rewards and forced weaker miners out of the market.

In addition to miner stress, veteran investors are also beginning to move their decade-old coins, with a 374% surge in Bitcoin held for seven to 10 years. However, CryptoOnchain notes that this is not necessarily panic selling, but rather 'organic distribution' as investors seek liquidity amid macroeconomic uncertainty.

Despite miners selling and long-term holders distributing coins, Bitcoin has remained relatively stable, suggesting steady demand absorbing the additional supply. This trend is similar to conditions seen during final stages of post-halving consolidations before market expansion.