Bitcoin now costs about $74,000 to mine per coin, above the current market price of roughly $63,000, according to Watcher Guru as cited by Techub News. The report said this cost-price inversion has pushed miners to sell about 28,000 BTC so far this year, with the total value nearing $1.78 billion. It also said retail investors are trimming their Bitcoin holdings, leaving overall market risk appetite at a low level. On the macro side, the report noted that while inflation data has eased, the odds of a near-term rate cut from the U.S. Federal Reserve remain low. In that setting, high interest rates tend to weigh on allocations to risk assets, including crypto. The report frames miner selling, retail reduction in holdings, and a still-tight rate outlook as the main pressures currently facing the Bitcoin market.
Bitcoin currently costs about $74,000 to mine per coin, above the market price of roughly $63,000, according to Watcher Guru in a report cited by Techub News.
The report said the negative spread between mining costs and spot price has led miners to sell about 28,000 BTC this year, with the total value nearing $1.78 billion.
It added that retail investors are also cutting their Bitcoin holdings, leaving market risk appetite at a low level. While inflation data has eased, the report said a near-term interest rate cut by the U.S. Federal Reserve remains unlikely, and high rates typically weigh on allocations to risk assets.
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