Industry experts expressed optimism about the sector and the leading cryptocurrency’s price performance post-halving in comments to crypto.news today, July 31.
Bitcoin mining has been in the spotlight since the latest Bitcoin halving in April. The post-halving scenario typically marks a period of struggle for miners, as it reduces mining rewards, which, of course, affects miners’ profitability. However, in comments to crypto.news today, several mining industry insiders suggested that Bitcoin miners are bullish on the current market outlook.
According to Sascha Grumbach, founder and CEO of Green Mining DAO, miners are expecting a post-halving Bitcoin 
btc1.28%Bitcoin price rally, which has historically happened “within three to six months after each halving event.”
Despite expectations that post-halving conditions could compel miners to sell their holdings to sustain operations, a surprising trend has evidently emerged. Since April, major mining firms have instead been holding onto most of their Bitcoin stash, according to Bitwise’s Q2 report.
In the first quarter of 2024, the five largest Bitcoin mining firms sold a total of approximately 2,000 BTC, the lowest in two years, compared to over 7,000 BTC in the fourth quarter of 2023. As June approached, this trend not only persisted, but intensified with little to no selling activity.
The optimism from miners is also fuelled by the institutional interest that followed the introduction of exchange-traded products for Bitcoin in the United States, which have raked in $17.71 billion as of July 29. Commenting on the pattern, Grumbach told crypto.news: