![Bitcoin [BTC] miners feel the heat with high sell pressure, can this ease their trouble](https://i.headtopics.com/images/2023/4/14/cryptoamb/bitcoin-btc-miners-feel-the-heat-with-high-sell-pr-bitcoin-btc-miners-feel-the-heat-with-high-sell-pr-1646884265567608844.webp)
As Bitcoin Stamps surpasses Ordinals in terms of growth rate, the NFT market was positively impacted. However, miners continue to face difficulties as selling pressure rises.
. Compared to Ordinals, which stores image data within printable transaction witness data, Bitcoin Stamps stores it directly within spendable transaction outputs.
The NFT market of the Bitcoin network was also positively impacted by the interest seen in both Stamps and Inscriptions. This was evident from the growing number of NFT trades on the network over the past week.Even though an active interest in the Bitcoin network may be a positive development for BTC, the miners were still facing distress.
As per analyst CryptoVizArt, the Puell Multiple, an indicator that measures miners’ revenue against their average income over the previous year, showed that miners were making less than 12% of their average yearly earnings. This was due to the growing hashrate of Bitcoin, which led to a spike in the network’s difficulty.
🧵/5. By adjusting the difficulty change, the Puell Multiple can show a more realistic estimation of contraction in miners' revenue. Investigating the Adjusted-Puell Multiple shows that miners are still earning 12% less than their yearly average income.
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