KuCoin: Bitcoin Has Spent 280 Days Below JPMorgan's $85K Production Cost
- —Bitcoin has spent about 280 days below JPMorgan's $85,000 production cost estimate
- —That is longer than the previous below-cost stretch seen in 2018
- —Higher-cost miners have already cut operating capacity
- —The recent BTC rally included short covering, signaling market uncertainty
Why it matters: Sustaining above $85,000 would curb forced miner selling; a breakdown would add further downside pressure on price.
Source: Coinfomania