Miner Revenue
Total daily miner revenue from blocks + fees - key supply variable.
BTC miners get new BTC per block (block subsidy) + transaction fees. Revenue x BTC price = their daily USD income. After halving (2024: 6.25 -> 3.125 BTC/block), subsidy halves - miners with higher energy costs capitulate and dump in panic. Historically creates a local bottom before the next bull.
In plain words
Bitcoin miners get a reward per block plus transaction fees. When the reward drops (halving every 4 years), weaker miners fail and sell BTC reserves.
Example
After April 2024 halving: miner revenue dropped 78M -> 31M USD/day -> 3-month capitulation, BTC bottom 49k in August.
Also known as: miner income, miner outflow