Bitcoin Trades 20% Below Production Cost as Miner Profitability Drops to 14-Month Low
Bitcoin is trading about 20% below costs to mine as hashrate slides 12% from October highs, daily revenue craters, and a 14% difficulty cut looms on Februa...
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ETH
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Bitcoin is trading about 20% below costs to mine as hashrate slides 12% from October highs, daily revenue craters, and a 14% difficulty cut looms on Februa...
"Extreme fear" grips crypto and metals while U.S. equities show resilience ahead of key earnings.
Bitcoin drops $70,000
Recent volatility reviews, new surveillance systems and a landmark court ruling show how South Korea is enforcing stricter oversight of crypto markets.
Bitcoin is now approximately 20% below its estimated average production cost, historically a feature of a bear market.
Stifel analysts predict bitcoin could fall to $38,000 using an analogy of the movie "The Curious Case of Benjamin Button" to explain the bearish forecast.
Bitcoin ETFs saw $545 million in daily outflows as BTC neared $70,000, though analysts said most investors were holding positions despite market weakness.
A JPMorgan strategist made a contrarian call, saying bitcoin now looks more appealing than gold after the surge in the yellow metal's price.
Analysts say the move looks driven more by short covering than fresh buying, with spot demand soft and stablecoin balances on exchanges drifting lower.
Bitcoin selling pressure sparked a retreat below the 2021 bull market high, with lower BTC price targets still expected to be hit.
TRX has outperformed much of the crypto market this year, slipping only about 1.3% versus bitcoin's nearly 19% decline.
Bhutan government wallet has moved more than $22 million in BTC out of sovereign wallets over the past week, on-chain data noted. The post Bhutan Quietly S...