$BTC MINERS SEE REVENUE SLASHED AS 20% OPERATE AT LOSS 💎
Daily miner revenue has dropped to roughly $30M, down from $50M this time last year. With Bitcoin trading around $60,500 and estimated production cost near $78,000, roughly one in five miners are underwater.
Transaction fees are negligible, meaning profitability is entirely dependent on price appreciation. This creates natural selling pressure as struggling operators liquidate holdings to stay afloat.
Is miner capitulation the leading indicator for a local bottom or just more downside to come?
Not financial advice. Always manage your risk.
#BTC #MinerRevenue #OnChain #CryptoAnalysis
💎
Daily miner revenue has dropped to roughly $30M, down from $50M this time last year. With Bitcoin trading around $60,500 and estimated production cost near $78,000, roughly one in five miners are underwater.
Transaction fees are negligible, meaning profitability is entirely dependent on price appreciation. This creates natural selling pressure as struggling operators liquidate holdings to stay afloat.
Is miner capitulation the leading indicator for a local bottom or just more downside to come?
Not financial advice. Always manage your risk.
#BTC #MinerRevenue #OnChain #CryptoAnalysis
💎
