{"id":95509,"date":"2026-03-24T12:46:53","date_gmt":"2026-03-24T09:46:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=95509"},"modified":"2026-03-24T12:50:26","modified_gmt":"2026-03-24T09:50:26","slug":"bitcoin-miners-activity-index-hits-historic-low","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-miners-activity-index-hits-historic-low\/","title":{"rendered":"Bitcoin Miners&#8217; Activity Index Hits Historic Low"},"content":{"rendered":"<p>The <span data-descr=\"Miner Position Index\" class=\"old_tooltip\">MPI<\/span> metric has fallen to -1.04, marking the third lowest level in history. This was highlighted by CryptoQuant analyst Ignacio Moreno de Vicente, who described the development as a bullish signal.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Extreme Miner Inactivity: A Hidden Strength or Silent Warning?<\/p>\n<p>\u201cHistorically, the signal becomes more actionable when MPI begins to rise from these lows, indicating re-engagement alongside improving market conditions.\u201d \u2013 By <a href=\"https:\/\/twitter.com\/MorenoDV_?ref_src=twsrc%5Etfw\">@MorenoDV_<\/a> <a href=\"https:\/\/t.co\/Few2hTlmgz\">pic.twitter.com\/Few2hTlmgz<\/a><\/p>\n<p>\u2014 CryptoQuant.com (@cryptoquant_com) <a href=\"https:\/\/twitter.com\/cryptoquant_com\/status\/2036041263376417069?ref_src=twsrc%5Etfw\">March 23, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Such levels indicate that miners of the leading cryptocurrency are sending fewer coins to exchanges than usual, compared to the annual average. The selling pressure from them is structurally reduced.<\/p>\n<p>According to the expert, an extremely low MPI is a positive signal: the market sees a reduction in supply from some of the most consistent and natural sellers.<\/p>\n<p>In past cycles, similar values were observed during periods of miner stress or post-capitulation phases\u2014often against a backdrop of macroeconomic uncertainty and margin compression. However, the reduction in selling pressure does not serve as a reliable indicator of an absolute price bottom, Moreno de Vicente emphasized.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cMPI reflects the relative behavior of sellers, but does not show who is absorbing the supply. Without a clear expansion of demand (spot flows, inflows into <\/em><a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-cryptocurrency-etf\"><em>ETFs<\/em><\/a><em> or positioning in derivatives), a low MPI alone cannot ensure a sustainable upward movement,\u201d he added.<\/em><\/p>\n<\/blockquote>\n<p>The signal becomes stronger when the indicator starts to rise from its lows. This indicates a return of activity as market conditions improve.<\/p>\n<p>At the time of writing, Bitcoin is trading around $71,000. Over the past 24 hours, the asset&#8217;s price has increased by 3.9%.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"640\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-ad4ae23e747f4ad7-9561781193928610-1024x640.png\" alt=\"image\" class=\"wp-image-277298\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-ad4ae23e747f4ad7-9561781193928610-1024x640.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-ad4ae23e747f4ad7-9561781193928610-300x187.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-ad4ae23e747f4ad7-9561781193928610-768x480.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-ad4ae23e747f4ad7-9561781193928610-1536x959.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-ad4ae23e747f4ad7-9561781193928610.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Hourly BTC\/USDT chart on Binance. Source: <a href=\"https:\/\/ru.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSDT\">TradingView<\/a>.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Rare Blockchain Reorganization<\/h2>\n<p>The concentration of Bitcoin miners led to a rare event\u2014a network reorganization. At the center was the largest pool, Foundry USA, which combines computing power to verify transactions and mine blocks.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We just had a rare-ish two block fork\/reorg between Foundry and AntPool+ViaBTC. Foundry mined six blocks in a row.<a href=\"https:\/\/t.co\/qpj7eLlh0U\">https:\/\/t.co\/qpj7eLlh0U<\/a> <a href=\"https:\/\/t.co\/Jd5m1LX036\">pic.twitter.com\/Jd5m1LX036<\/a><\/p>\n<p>\u2014 b10c (@0xB10C) <a href=\"https:\/\/twitter.com\/0xB10C\/status\/2036118084734349542?ref_src=twsrc%5Etfw\">March 23, 2026<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On March 23, Foundry and AntPool discovered blocks almost simultaneously, temporarily splitting the chain. Foundry outpaced its rivals by mining several in a row, making its version the main one. The blocks from AntPool and ViaBTC became &#8220;orphaned&#8221;: they were excluded from the registry, leaving miners without a reward.<\/p>\n<p>At height 941,881, both pools found valid blocks within a 12-second interval (15:49:35 and 15:49:47 UTC). The network diverged: some nodes accepted one branch, others the other. At the next height, ViaBTC continued AntPool&#8217;s chain, while Foundry continued its own, creating two competing lines two blocks deep.<\/p>\n<p>Then Foundry took the next heights (941,883 and 941,886), giving its version a decisive advantage in terms of work invested. Transactions from the &#8220;orphaned blocks&#8221; were not lost; they returned to the mempool.<\/p>\n<p>A two-block reorganization does not threaten Bitcoin&#8217;s security\u2014the network functioned as expected, choosing the longer chain and restoring consensus within minutes.<\/p>\n<p>However, the incident highlighted the risks of concentration: the fewer pools control the <a href=\"https:\/\/forklog.com\/en\/news\/what-are-hashrate-and-mining-difficulty-in-cryptocurrencies\">hashrate<\/a>, the higher the likelihood that one of them will mine several blocks in a row, increasing the chance of competing chains emerging when large players mine simultaneously.<\/p>\n<p>On March 21, mining difficulty <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-mining-difficulty-drops-nearly-8\">decreased<\/a> by 7.76%\u2014the second largest negative change in 2026. The hashrate fell from a record 1 ZH\/s to about 920 EH\/s.<\/p>\n<p>Small and medium miners are leaving the market: with Bitcoin priced at $70,000, mining becomes unprofitable. The estimated cost is $88,000. Each exit concentrates the remaining hashrate in fewer pools, exacerbating the problem.<\/p>\n<p>Earlier in March, the volume of yet-to-be-issued coins of the first cryptocurrency <a href=\"https:\/\/forklog.com\/en\/news\/fewer-than-1-million-bitcoins-remain-to-be-mined\">reached<\/a> 1 million. The remaining bitcoins will be mined by 2140.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Miner Position Index fell to -1.04, the third lowest level in history, noted CryptoQuant analyst Ignacio Moreno de Vicente.<\/p>\n","protected":false},"author":1,"featured_media":95510,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"The Miner Position Index fell to -1.04, the third lowest level in history.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1137,1205,1138],"class_list":["post-95509","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining","tag-cryptoquant","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"109","promo_type":"1","layout_type":"1","short_excerpt":"The Miner Position Index fell to -1.04, the third lowest level in history.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95509","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=95509"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95509\/revisions"}],"predecessor-version":[{"id":95511,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/95509\/revisions\/95511"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/95510"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=95509"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=95509"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=95509"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}