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