Sentora: Bitcoin Miner On-Chain Transaction Share Drops to Around 3.3%, the Lowest Level Since November 2022

BlockBeats News, July 8th, Sentora (formerly IntoTheBlock) published an article stating that Bitcoin miners' share of on-chain transaction volume is at its lowest level in years. Currently, Bitcoin miner transactions account for about 3.3% of on-chain transaction volume, the lowest level since November 2022.

A decrease in miner transaction share usually means they are more inclined to hodl Bitcoin rather than engage in frequent trading, opting to reduce selling pressure in anticipation of price increase. November 2022 coincided with the crypto market bottom (during the FTX meltdown), and the current low share may imply a more cautious sentiment.