PANews February 5 News, according to Coindesk, Checkonchain data shows that Bitcoin’s current price is approximately $70,000, which is below its estimated average production cost of about $87,000, a gap of around 20%. Historically, Bitcoin prices remaining below production costs is often a characteristic of a bear market, a situation that has occurred during the market cycles of 2019 and 2022.
After reaching a historical peak of approximately 1.1 ZH/s in network hash rate last October, the hash rate dropped by about 20% due to the shutdown of less efficient mining rigs, but has recently rebounded to 913 EH/s, showing initial signs of stabilization. However, at the current price, many miners are still operating at a loss. To sustain daily operations, cover energy costs, and repay debts, miners continue to sell their Bitcoin reserves. This “miner capitulation” phenomenon highlights that the industry still faces ongoing financial pressures.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Robert Kiyosaki Cites Warren Buffett Cash Strategy While Loading up on Bitcoin Ahead of 'Giant Crash'
Robert Kiyosaki warns a “giant crash” is accelerating as Warren Buffett piles up cash for turmoil, while he urgently shifts millions into bitcoin, gold, silver, and oil in preparation for what he believes could be the biggest market collapse in history.
Robert Kiyosaki Doubles Down on Bitcoin
Coinpedia54m ago
BTC broke through $73,000 this morning, ETH broke through $2,200
Gate News: On March 16, market data shows BTC broke through $73,000 this morning, currently trading at $72,941; ETH broke through $2,200, currently trading at $2,182.
GateNews1h ago
Next Crypto to Explode: Pepeto Staking Pays $20,900 Yearly While BTC Miners Dump and DOGE Flatlines
Publicly listed Bitcoin miners have sold more than 15,000 BTC since October as margins tighten according to CoinDesk. The miners who once held conviction are now selling to survive, and traders searching for the next crypto to explode are watching capital rotate from miners into
CaptainAltcoin2h ago
Basel rule changes could unlock huge Bitcoin liquidity: Analyst
The Basel III framework governing bank capital requirements is set for an update in 2026, with potential implications for the crypto ecosystem. The outcome could hinge on how the largest digital asset is treated in risk-weight calculations, and analysts warn
CryptoBreaking2h ago
