THE $74,600 BTC FLOOR IS HOLDING
The market noise is deafening, but the real signal is coming from the network's foundation. While recent volatility has squeezed the entire crypto ecosystem, $BTC miners are facing an unprecedented operational crisis. Mining difficulty is at an all-time high, pushing the average cost to produce a single Bitcoin to nearly $74,600. With the spot price hovering just above that level, margins are nonexistent, demanding maximum risk management.
Yet, despite being backed into a financial corner, miners are showing immense conviction. The Bitcoin Miner Position Index (MPI) is deep in negative territory, confirming that these heavyweights are HODLing their assets rather than dumping them to cover costs. This is not capitulation; this is endurance. When the cost of production almost equals the market price, and the producers still refuse to sell, it highlights a deep, fundamental belief in the long-term trajectory of $BTC. Their resilience is the crucial on-chain metric foreshadowing the next major directional move.
This is not financial advice. Do your own research.
#BitcoinMining #OnChain #CryptoFundamentals #BTC
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