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The current Bitcoin market shows an extreme backwardation: the mining cost per coin has soared to $80,000, while the market price fluctuates only between $66,000 and $68,000. This means that each Bitcoin's birth comes with an unrealized loss of nearly 19,000 yuan. According to statistics, 15%-20% of miners worldwide have fallen into a profitability trap, and the industry is undergoing an unprecedented cash flow stress test. #BTC行情