$BTC — Bitcoin Mining Update
JPMorgan analysts say Bitcoin moving above the bank’s estimated production cost of around $85,000 could reduce selling pressure from miners if the level holds.
According to NS3.AI, BTC had remained below this level for 280 days before moving above it during this week’s rally.
Analysts also noted that miners are shifting more capacity toward artificial intelligence as Bitcoin mining profitability remains weak.
The $85K level is now an important area to watch for Bitcoin and miner activity. 📊
#BTC #Bitcoin #Crypto #Bitcoinmining #CryptoNews
JPMorgan analysts say Bitcoin moving above the bank’s estimated production cost of around $85,000 could reduce selling pressure from miners if the level holds.
According to NS3.AI, BTC had remained below this level for 280 days before moving above it during this week’s rally.
Analysts also noted that miners are shifting more capacity toward artificial intelligence as Bitcoin mining profitability remains weak.
The $85K level is now an important area to watch for Bitcoin and miner activity. 📊
#BTC #Bitcoin #Crypto #Bitcoinmining #CryptoNews
