Bitcoin miners are facing increasing pressure, with revenues decreasing by 11% to 502 BTC, while mining difficulty hits a record high of 159 trillion, squeezing profit margins. Short-term holders are also in a loss position, with unrealized losses of about 12% due to Bitcoin's price dropping 30% from its peak. The latest data shows that miners' net position change has turned to -487 BTC, indicating that under unstable market support and ETF capital flow fluctuations, miners may be engaging in capitulative selling.