Miners accelerated the pace of selling bitcoin last week as the price of bitcoin fell below $80,000, Golden Finance reported. The company said that on April 7, miners sold a total of 15,000 bitcoins, the third largest single-day outflow this year. Based on the lowest price of less than $75,000 on the day, it is worth at least $1.12 billion. "Miners' profit margins are squeezed by falling prices, along with sluggish transaction fees and record-high computing power in Bitcoin networks, which means higher mining costs, causing their average operating margins to drop from 53% at the end of January to 33% today," CryptoQuant said. The company also noted that Bitcoin has been in one of the least optimistic stages since November 2022. Bitcoin reached a high of nearly $109,000 before President Trump took office, but it has been difficult to break through $90,000 since then.