According to the latest data provided by the CryptoQuant platform, in early this month, the daily outflow of bitcoins from bitcoin miners once reached a peak of 19,000 bitcoins, which is the highest level since March. The massive selling behavior behind this is the result of multiple factors acting together. First, after the halving event in April, the efficiency of miners in generating profits significantly decreased, posing a serious challenge to their profitability. At the same time, as mining difficulty continues to rise, miners need to invest more resources to maintain mining activities, which undoubtedly increases their cost pressure. In addition, increased price volatility has made the market environment more complex for miners, forcing them to sell when prices are low to reduce losses. CryptoQuant analysis indicates that the weekend may have witnessed the "surrender moment" of miners, i.e., after the bitcoin price briefly touched $49,000, there was a surge in miner's funds outflow. Facing the current market situation, miners may continue to engage in selling behavior, hoping to alleviate their economic pressure under the continuous low prices and high mining difficulty.