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“I once said that you should get married early, otherwise all that’s left are the inferior ones—the ‘crooked melons and cracked dates.’ At the same time, Charlie Munger once said that in life you only need to get rich once. Based on my years of observation, I now have to disagree with Mr. Munger: if you don’t marry early and end up with one of those inferior partners, then you’ll need to get rich twice in your life.”
Bitcoin Miner Capitulation: 28,000 BTC Dumped & The Rising Cost of Mining! ⛏️📉 A major driving force behind the recent market correction is quietly unfolding on-chain. Bitcoin miners have dumped a staggering 28,000 BTC (worth around $1.78 billion) this year, serving as an overlooked catalyst behind the recent 27% market crash. The Production Cost Squeeze: It currently costs approximately $74,000 to mine just one Bitcoin, which is sitting well above the spot market price of around $63,000. Severe Pressure on Operations: With mining costs exceeding revenues, miners are facing massive profit margins compression, forcing them to liquidate their treasury reserves to cover operational expenses and energy costs. Market Impact: This ongoing miner capitulation adds heavy selling pressure to the order books, keeping the market under strain until prices recover above the production cost threshold. 🎁 Join and Earn Together: Don't forget to check out my referral link to earn rewards: https://www.binance.com/referral/earn-together/refer2earn-usdc/claim?hl=en&ref=GRO_28502_WCYB7&utm_source=referral_entrance What are your thoughts on miner selling? Are we nearing maximum capitulation? Let's discuss below! 👇💬 #Bitcoin #BTC #CryptoMining #OnChainData #BinanceSquare #CryptoMarket$BTC #DYOR🟢 #NFA✅