VanEck's latest bitcoin analysis report indicates that as selling pressure from long-term holders slows, the market is sending positive signals, with bitcoin trading volumes declining across all age cohorts. Despite miner revenues declining by 11% and mining equity down 7%, miners' selling volumes remain stable, with inflows to exchanges increasing by only 1%. Currently, miners' total holdings amount to approximately 684,000 bitcoins, down only 0.5% year-over-year, as the industry has sold through all newly issued bitcoins. The report emphasizes that financial pressure is prompting some miners to shift toward artificial intelligence-focused models, and warns that sustained low bitcoin prices could force miners to accelerate selling to offset dollar costs.