Bitcoin Trading $15,500 Below JPMorgan's Estimated Production Cost for Five Months

BTC-1.79%
According to JPMorgan analysts, Bitcoin has traded below its estimated production cost of $78,000 for five consecutive months, with BTC currently priced around $62,500. The analysts noted that about 20% of Bitcoin miners are now unprofitable. In response, publicly traded miners sold more than 32,000 Bitcoin during the first quarter of 2026 to cover operating expenses, exceeding their combined 2025 sales.
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