Bitcoin Miner Behavior Indicates Possible Local Bottom at $80,000

The Bitcoin (BTC) market is stabilizing around $90,000 after a notable recovery, following a drop of about 36.10% from its all-time high of $126,100. Recent data from Bitcoin miner activity suggests the cryptocurrency may have reached a local bottom during its descent to $80,000, pointing to the potential for a sustained upward trend.

Key Takeaways

Bitcoin's price has stabilized around $90,000 following recent recoveries.
The cryptocurrency dropped 36.10% from its all-time high of approximately $126,100.
Recent miner activity indicates a possible local bottom at $80,000.
Underpaid miners signal a potential turning point in the market.
Analysts remain optimistic about Bitcoin's future performance and price recovery.

Bitcoin

Understanding Bitcoin Miners' Influence on Market Trends

Market analyst BorisD recently shared insights on the CryptoQuant QuickTake platform, suggesting that Bitcoin may have formed a local bottom when its price declined to $80,000 during a recent correction. He highlights that miner profitability is in an underpaid state—a historical signal confirming local market bottoms.

For context, miners become underpaid when their earnings from mining (block rewards plus transaction fees) fall below their average operating costs. This situation creates financial strain leading to forced selling and, in some cases, bankruptcy among miners.

Role of Miner Economics in Market Dynamics

BorisD emphasizes that Bitcoin miner profitability is a critical metric for identifying potential market tops or bottoms. For instance, in early 2024, miner revenue soared as prices climbed due to increased transaction fees and the dollar value of block rewards. This profitability allowed miners to distribute Bitcoin into the market, potentially indicating an early market peak.

Bitcoin Source: CryptoQuant

By mid-2024, a pattern emerged where areas of capitulation marked local bottoms, while overpaid zones often coincided with market tops characterized by significant liquidity outflows. This trend persisted through late 2024 into early and mid-2025, during which miners’ revenues fluctuated between overpaid and underpaid states.

As Bitcoin’s price struggled in Q4 2025 and fell to around $80,000, BorisD noted that miners entered another underpaid cycle. This scenario completed a capitulation cycle and alleviated miner-driven selling pressure, reinforcing the confirmation of a local price bottom.

Current Bitcoin Market Status

As of the latest update, Bitcoin is trading at $90,898, showing a slight 0.64% increase within the last 24 hours. However, the daily trading volume has decreased significantly by 36.32%, now at $38.77 billion.

According to BorisD, if Bitcoin maintains a price above $80,000, miner profitability is expected to rise. This scenario could lead to continued upward momentum, potentially pushing Bitcoin towards another market peak. Although the current market cycle exhibits unusual characteristics compared to previous cycles, analysts maintain a broadly optimistic outlook. Many anticipate that Bitcoin will not only recover but may also surpass its previous six-figure levels.

Bitcoin BTC trading at $90,931 on the daily chart | Source: BTCUSDT chart on Tradingview.com