This puts miners producing $ at a cost $11,525 higher than what the market is paying.

The mining cost to market price ratio is now 1.12 (previous: 1.10).

Here’s why this matters:

When Bitcoin trades this far below production cost, the market enters an unsustainable zone.

Miners either reduce selling pressure, shut down weaker operations, or the price eventually adjusts higher to close the gap.

Hashprice is $33.65 per PH/s/day, near breakeven for many miners.

Bitcoin difficulty just dropped 7.76%, signaling stress among less efficient miners.

Currently, Bitcoin trades 14.9% below average mining cost.

Price: $65,668

Average Mining Cost: $77,193

Gap: $11,525

This setup shows Bitcoin is structurally underpriced.

It doesn’t guarantee an instant rally, but prolonged trading below production cost increases the probability of a repricing higher.

Once miners adjust or supply tightens, upward momentum could accelerate fast.