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 volume declining across all age cohorts. Despite miner income dropping 11% and mining equity declining 7%, miners' selling volume has remained stable, with bitcoin inflows to exchanges increasing only 1%. Miners currently hold approximately 684,000 bitcoins in total, representing only a 0.5% year-over-year decline, as the industry has sold through all newly issued bitcoins. The report emphasizes that financial pressure is prompting some miners to shift toward AI-centric models, and warns that sustained low Bitcoin prices could force miners to accelerate selling to offset dollar costs.