Engaging Title: “Bitcoin Miner Reserves Plummet: Halving Impact and Market Turbulence”

Jun 24, 2024

Metablox NFT save memories to the blockchain


Everyday we create memories that are attached to places, but how will future generations know what happened to us? 

Metablox is saving our most important memories on the blockchain, and you can own the real world places the memories happened.


Bitcoin Miner Reserves Drop to 1.9M BTC – Impact of Fourth Halving Event


The revenue of Bitcoin miners has been significantly impacted by the fourth halving event in April 2024, leading to a massive liquidation that has pushed miner reserves to 1.9 million BTC – a level not seen in 14 years.


The revenue of Bitcoin miners took a hit due to the fourth halving event in April 2024, resulting in a substantial sell-off of over $2 billion worth of cryptocurrency in June. This marked the worst monthly sell-off of the year, as miners resorted to selling their holdings to cover operational costs post the latest Bitcoin Halving.

Main Points

  • The fourth halving event in April 2024 reduced block rewards, forcing many miners, especially those with fewer assets, to sell off their Bitcoin holdings to manage expenses.
  • The breakeven threshold for miners is around $80,000, but the current Bitcoin price is significantly lower, leading to massive sales by miners and whales alike.
  • Market volatility has surged with Bitcoin’s price dropping below $61,000, compounded by the German government’s sale of $3 billion worth of Bitcoin, and the ongoing repayment of $9 billion by Mt. Gox to creditors.
  • Despite the market turbulence, crypto expert Ali Martinez predicts a potential rebound, citing historical instances where oversold levels in Bitcoin’s daily RSI led to significant price increases.


While the cryptocurrency market faces uncertainty and volatility, the potential for a market rebound remains as highlighted by expert predictions. The impact of events like halving, massive liquidations, and regulatory actions continue to shape the landscape of Bitcoin mining and trading.